Elitism is the belief or attitude that some individuals, who form an elite — a select group of people with intellect, wealth, specialized training or experience, or other distinctive attributes — are those whose views on a matter are to be taken the most seriously or carry the most weight; whose views and/or actions are most likely to be constructive to society as a whole; or whose extraordinary skills, abilities or wisdom render them especially fit to govern.

Alternatively, the term elitism may be used to describe a situation in which power is concentrated in the hands of a limited number of people. Those opposed to elitism are considered supporters of anti-elitism, egalitarianism, populism or the political theory of pluralism. Elite theory is the sociological or political science analysis of elite influence in society - elite theorists regard pluralism as a utopian ideal.

Elitism also refers to situations in which an individual assumes special privileges and responsibilities in the hope that this arrangement will benefit humanity or themselves. At times, elitism is closely related to social class and what sociologists call social stratification. Members of the upper classes are sometimes known as the social elite. The term elitism is also sometimes used to denote situations in which a group of people claiming to possess high abilities or simply an in-group or cadre grant themselves extra privileges at the expense of others. This form of elitism may be described as discrimination.

Michelle LaVaughn Robinson Obama (born January 17, 1964) is the wife of the 44th and incumbent President of the United States, Barack Obama, and is the first African-American First Lady of the United States. Raised on the South Side of Chicago, Obama attended Princeton University and Harvard Law School before returning to Chicago and to work at the law firm Sidley Austin, where she met her future husband. Subsequently, she worked as part of the staff of Chicago mayor Richard M. Daley, and for the University of Chicago Medical Center.

Throughout 2007 and 2008, she helped campaign for her husband's presidential bid and delivered a keynote address at the 2008 Democratic National Convention. She is the mother of two daughters, Malia and Sasha, and is the sister of Craig Robinson, men's basketball coach at Oregon State University. As the wife of a Senator, and later the First Lady, she has become a fashion icon and role model for women, and an advocate for poverty awareness, nutrition and healthy eating.

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician, and author who taught at the University of Chicago for more than three decades. He was a recipient of the Nobel Memorial Prize in Economic Sciences, and is known for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy. As a leader of the Chicago school of economics, he influenced the research agenda of the economics profession. A survey of economists ranked Friedman as the second most popular economist of the twentieth century behind John Maynard Keynes, and The Economist described him as "the most influential economist of the second half of the 20th century…possibly of all of it."

Friedman's challenges to what he later called "naive Keynesian" (as opposed to New Keynesian) theory began with his 1950s reinterpretation of the consumption function, and he became the main advocate opposing activist Keynesian government policies. In the late 1960s he described his own approach (along with all of mainstream economics) as using "Keynesian language and apparatus" yet rejecting its "initial" conclusions. During the 1960s he promoted an alternative macroeconomic policy known as "monetarism". He theorized there existed a "natural" rate of unemployment, and argued that governments could increase employment above this rate (e.g., by increasing aggregate demand) only at the risk of causing inflation to accelerate. He argued that the Phillips curve was not stable and predicted what would come to be known as stagflation. Friedman argued that, given the existence of the Federal Reserve, a constant small expansion of the money supply was the only wise policy.