[lbo-talk] money over politics - was steve perry essay

Doug Henwood dhenwood at panix.com
Thu Feb 12 07:04:45 PST 2004


Arash wrote:


>This comment reminded me of Thomas Ferguson's book the Golden Rule: The
>Investment Theory of Party Competition, part of it shows how much US
>elections historically have been influenced far more by the competition and
>consensus of large corporate/capitalist blocs than appeals to constituents.

I think it's a lot more complicated than that. Contributions often follow electoral results (just like rising stock prices attract buyers). Look, for example, at the big shift to the Reps *after* the 2000 election <http://www.opensecrets.org/bigpicture/ptytots.asp?cycle=2002>, even though the Dems had narrowed the Reps usual advantage before the Bush victory.

Doug



More information about the lbo-talk mailing list