#Politics
#Economics

The Origins of the Investment Theory of Party Competition

Alas, today, it is necessary to ask whether the United States and similar countries are not sliding into a new form of “affluent authoritarianism.”

Refining models of voter behavior to take more account of voter ignorance is pointless if you systematically bypass what’s driving the system, especially when money speeds across state lines at the speed of light.

By Thomas Ferguson

https://www.ineteconomics.org/perspectives/blog/the-origins-of-the-investment-theory-of-party-competition

@corlin

Great piece, eloquent writing, sobering reality.

I am growing skeptical that the noise and smoke can be reverted.

@artemis
Yes this is a massive problem.
It is systemic, and so not easily fixed by some legislation, or even a mass movement.

@corlin @artemis
There is another thing that isn't dealt with there -- the reason the ratio of money to election success is near-linear is that the major parties don't spend money on races that aren't competitive. There are a high percentage of races in Red States with no democrat in the race at all, or only one with no financial backing. Money still won't make the difference when the Republicans are 80% of registered voters, so they don't spend any.

@corlin @artemis

But the lack of using money to get the message out means that those districts become increasingly polarized election after election. They never hear alternative viewpoints. The "long game" has been about gerrymandering and judicial appointments, not ideas.