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> Yet the professional class has only marginal voting power and comparatively little to contribute to political funding, so it's not surprising that the astute
by barry-cotter 7y ago
> Yet the professional class has only marginal voting power and comparatively little to contribute to political funding, so it's not surprising that the astute ones are concerned.
Likelihood of voting is highly correlated with education. I wouldn’t be surprised if the top ten percent are three or four times more likely to vote than the bottom decile. Money is also far less important in politics than many think. If money won elections Michael Bloomberg would have been president long ago, Eric Cantor would still be a Congressman, rather than having been beaten by Dave Brat[1]. Joe Crowley would still be a Congressman rather than having been beaten by AOC[2].
> Add up all US spending on candidates, PACs, lobbying, think tanks, and advocacy organizations – liberal and conservative combined – and we’re still $2 billion short of what we spend on almonds each year. In fact, we’re still less than Elon Musk’s personal fortune; Musk could personally fund the entire US political ecosystem on both sides for a whole two-year election cycle.
https://slatestarcodex.com/2019/09/18/too-much-dark-money-in-almonds/ https://slatestarcodex.com/2019/09/18/too-much-dark-money-in...
[1] https://en.wikipedia.org/wiki/Dave_Brat https://en.wikipedia.org/wiki/Dave_Brat
In his challenge of House Majority Leader Eric Cantor for the Republican nomination, Brat was outspent by Cantor 40 to 1: Cantor spent over $5 million, while Brat raised $200,000 and did not spend all of it.
[2] https://en.wikipedia.org/wiki/Alexandria_Ocasio-Cortez https://en.wikipedia.org/wiki/Alexandria_Ocasio-Cortez
She was outspent by a margin of 18 to 1 ($1.5 million to $83,000)
- kaibee 7y agoI think this is a somewhat recent (6-7~ years ish?) development. In the early 2000's, money was much more important than it is now.
- akhilcacharya 7y ago> If money won elections Michael Bloomberg would have been president long ago, Mike Bloomberg has won every election he's run in, which is exactly 3 elections. Not the best example.
- vonmoltke 7y ago> If money won elections [Steve Forbes] would have been president long ago, More appropriate example then. You can add Perot to that pile as well.
- akhilcacharya 7y agoBetter example. Of course, I think Perot could have had a shot if he hadn't dropped out to drop back in. He could have easily have gotten 2nd place or 1st place in more states than UT and ME if he was less impulsive.