TITLE

The Political Market

AUTHOR(S)

Mandle, Jay R.

PUB. DATE

March 2013

SOURCE

Journal of Economic Issues (M.E. Sharpe Inc.);Mar2013, Vol. 47 Issue 1, p135

SOURCE TYPE

Academic Journal

DOC. TYPE

Article

ABSTRACT

This paper explores the economics of electoral democracy, an almost entirely neglected subject. Running for office necessitates resources. But students of democracy have had almost nothing to say about how much money should be spent by candidates or where that money should come from. As a result, there is a gaping void in the theory of democracy. Joseph A. Schumpeter used a market analogy in his discussion of the electoral process, but even he did not discuss how electoral campaigns are to be paid for. In fact, the few citizens who largely fund campaigns for office in the United States purchase non-rivalrous influence. They obtain the ability to shape the policies that affect all citizens. In this way, political equality is undermined. The paper concludes that achieving a more representative political system can best be attained by treating political campaigns as a public good.

ACCESSION #

86405937

 

Related Articles

• Introduksjon til Joseph Alois Schumpeter: Entreprenørproitt - et insitament til demokratisk utvikling. Sandal, Jan U. // Ekonomiska Samfundets Tidskrift;2011, Issue 1, p35 

  This article presents an analysis of entrepreneurial proit as an incentive for democratic development. The automatic process of change, carried out by R&D and change as a result by order, based on plenary decisions made behind closed doors, is neither the cause nor the result when society...

• DESENHO INSTITUCIONAL E ACCOUNTABILITY: PRESSUPOSTOS NORMATIVOS DA TEORIA MINIMALISTA. Maria, João Francisco Araújo // Revista de Sociologia e Política;2010, Vol. 18 Issue 35, following p27 

  This article attempts to systematize some contributions from contemporary theory (Schumpeter, Riker, McGann, Przeworski, Cox, McCubbins, Powell, Crisp, Arato and Lijphart, among others) on the limits of preference aggregation and on the most propitious institutional bases for the development of...

• Presidential Seat or Padishah's Throne?: The Distinctive Features of Supreme Power in Central Asian States. Kurtov, Adzhar // Russian Politics & Law;Jul2007, Vol. 45 Issue 4, p6 

  The article discusses the distinctive features of supreme power in Central Asian states. Several definitions of democracy were provided by various authors including Joseph Schumpeter who defines democracy as an institutional system under which individuals acquire power through competitive...

• Reflections on the Schumpeter I knew well. Samuelson, Paul A. // Journal of Evolutionary Economics;2003, Vol. 13 Issue 5, p463 

  Presents reflections about economist Joseph Schumpeter in the U.S. Experience on talking with the professional economist; Success of his book "Capitalism, Socialism, and Democracy"; Educational and career accomplishments of Schumpeter.

• Ambivalent Prophet of Capitalism. McCarthy, Daniel // American Conservative;7/16/2007, Vol. 6 Issue 14, p32 

  The article reviews the book "Capitalism, Socialism, and Democracy," by Joseph Schumpeter.

• Is war bad for business? Tures, John A. // Peace & Conflict Monitor;Jul2005, p1 

  The article addresses the debate over the relationship between capitalism and conflict. The conclusion that liberal democracies would be suited for imperialism is explained. Internal forms of conflict are discussed. The idea of Joseph Schumpeter on capitalism and imperialism is also explored....

• Capitalism, Socialism and Democracy. Berman, Ronald // New Republic;12/20/75, Vol. 173 Issue 25, p31 

  Reviews the book "Capitalism, Socialism and Democracy," by Joseph Schumpeter.

• On the sustainability of the capitalist order: Schumpeter's Capitalism Socialism and Democracy... Caeldries, Filip // Journal of Socio-Economics;Fall93, Vol. 22 Issue 3, p163 

  Provides a contemporary reading of Joseph Schumpeter's instability of capitalism thesis as formulated in `Capitalism, Socialism & Democracy.' Welfare capitalism and the disassociation between private and social objectives; Deconstruction of capitalist moral ethical foundations; Threat of...

• Schumpeter and the end of Western Capitalism. Kingston, William // Journal of Evolutionary Economics;Jul2014, Vol. 24 Issue 3, p449 

  Schumpeter's forecast in his Capitalism, Socialism and Democracy () that 'a socialist form of society will inevitably emerge from an equally inevitable decomposition of capitalist society' did great damage to his reputation. This was especially so after the fall of the Berlin wall, when the...

Read the Article