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Notes -
Scott’s written about it more than once!
https://slatestarcodex.com/2014/04/19/plutocracy-isnt-about-money/
https://slatestarcodex.com/2019/09/18/too-much-dark-money-in-almonds/
My conclusion is that spending on campaigns is pretty inefficient. There’s got to be a breakpoint somewhere, such that minimum wage laborers can’t expect to survive running for President. Once you cross that threshold, though, additional money isn’t worth too much.
Spending on lobbying might do better, or maybe it’s just perceived as better, but still won’t cause any landslide changes. Elites spend more on politics than proles, probably because of diminishing marginal value—politics is a bit of a luxury cause. But they don’t outspend to the level you’d expect if they could outright buy legislation.
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