This chapter focuses on Craxi’s moment of the Italian Socialist Party (PSI). Bettino Craxi had been the secretary of the PSI from 1976 to 1993 and president of the Council from 1983 to 1987. The PSI was the smallest party among the biggest Italian political parties, Christian Democracy (DC) and Italian Communist Party (PCI). The question of the state has been quite central for the PSI as organisation and party in power (with others parties, especially the DC). It tried to promote some policies. Its elites also took advantage of their position on the top of the state. This gave them a direct access to some important material and symbolic resources useful for the political competition, but contributed to the degradation of their image. This chapter has been written in collaboration with Massimo Asta, Marie Skłodowska Curie Fellow, University of Cambridge.