Premium
A Modern Paradigm for Campaign Finance: Economic Markets and Lessons from History
Author(s) -
Werfel Seth
Publication year - 2008
Publication title -
politics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.259
H-Index - 23
eISSN - 1747-1346
pISSN - 1555-5623
DOI - 10.1111/j.1747-1346.2008.00134.x
Subject(s) - campaign finance , voucher , politics , free market , legislation , marketplace of ideas , government (linguistics) , democracy , incentive , economics , political economy , presidential system , presidential election , public administration , political science , finance , market economy , law , linguistics , philosophy , accounting
Campaign finance is a perennially contentious issue in American politics, with increased significance in the upcoming presidential election. Historically, legislation has attempted to balance the corrupting effects of money in politics with the Constitutional right to free speech. This article argues for a modern paradigm of market‐based reform that relaxes controls on the supply of money and aims to limit the demand for private contributions. Specifically, this model introduces affordable government vouchers and secret donation booths, adapted to further expand consumer choice and increase incentives for political participation. Ultimately, applying principles of the market to campaign finance reform will enhance political efficacy and strengthen American democracy.