In the first of this series, Marshall focused more on the individual players, their relationships to important industrial and financial corporations, and their enormous possession and control of wealth. Because they wield so much influence over affairs in society, they constitute a ruling class which is rapidly taking on a transnational character. Here he focuses on the institutions where these players come together to pursue their influence more collectively.
It is important to read this material to understand the realities of political control that you likely never received in your education. These actors and their institutions account for the real government which operates behind and controls what most people think as the government: those official government institutions such as congress/parliaments, courts, and executives. The latter is the "democratic" facade necessary for the people to imagine that they have significant influence over their government, and that these official institutions function strictly according to law.
However, the powerful influence of this class does not end with their control over governing matters. In this article Marshall provides an introduction to a study of the more pervasive influence of this class: the ruling class institutions function in every sphere of activity to shape all of society according to their class interests. In the US it all began with the emergence of industrial and financial giants in the 19th century, and it has evolved from there to what we see today that Marshall will be exploring in future installments.
The large industrial foundations have played a truly profound – and largely overlooked – role in the shaping of modern society. The ‘Robber Baron’ industrial fortunes of the late 19th century – those of Morgan, Rockefeller, Carnegie, Harriman, Vanderbilt, etc. – sought to shape a new order in which they would maintain a dominant influence throughout society.