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How Much Does a Politician Cost?

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l-r: Alan Greenspan, Paul Volker, Ronal Reagan, James Baker

  • A groundbreaking study reveals the influence of money in politics. 
  • Related: “The system is rigged against regular people”: Big money has completely warped American democracy

Jon Schwarz <>, the Intercept

May 4 2017 | An ingenious new Roosevelt Institute study on the influence of money on politics begins with an incredible story about how the world actually works:

In the spring of 1987, Paul Volcker’s second term as chair of the Federal Reserve was running out. Volcker had first been appointed by Jimmy Carter in 1979, and was willing to stay for another four years if President Reagan asked. While Volcker had used high interest rates to engineer a crushing recession at the start of Reagan’s first term, he then allowed the economy to expand rapidly just in time to carry Reagan to a landslide reelection in 1984.

Yet Reagan wanted to replace him. Why?

https://prod01-cdn04.cdn.firstlook.org/wp-uploads/sites/1/2015/04/Jon-Schwarz_avatar_1429549467-350x350.jpg Before joining First Look, Jon Schwarz worked for Michael Moore’s Dog Eat Dog Films and was Research Producer for Moore’s Capitalism: A Love Story. He’s contributed to many publications, including The New Yorker, The New York Times, The Atlantic, The Wall Street Journal, Mother Jones and Slate, as well as NPR and “Saturday Night Live.”

Full story … 

 



Related: 

“The system is rigged against regular people”: Big money has completely warped American democracy, Michael Winship, Moyers & Company

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  • Corporations have a stranglehold on both parties. Here's how it happened -- and how we take our government back.
  • Hillary Clinton Is Exposing the Dark Underbelly of the Democrats’ Money Machine

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