Neoclassical theory revisits insights of classical theory, adding to them modern scientific rigor and analytic procedures. Elementary theory exemplifies a modern, neo-classical theory. Using a well-specified worldview, formal laws and mechanisms, and an explicit modeling procedure, it transforms the classical insights of Marx and Weber into experimentally tested, cumulative knowledge on power relations and structures. Examining Elementary Theory uncovers one way to build a scientific theory with the potential for explanatory growth and replication success.