Unit V Influencing the American Political System. Unit V Influencing the American Political System Key Understandings: Political Activity is Economic Activity. There is a political invisible hand Competition in politics is similar and different to that of competition in the economy.
Influencing the American Political System
Median Voter Theorem
Special Interest Groups
Political Action Committees
Campaign Finance Reform
The Public Choice School: Politics as a Business
Politics as economy activityPolitical spectrumOn the issuesA different spectrum Why is the center under represented?Political partiesAnswer the question - deep pockets try to broaden baseInterest group/lobbyist/pacsCapture theoryPolitical invisible handAnswer the question- fringe organized not worth cost of fightingMoney and elections Answer questionIndividual donations smaller than pacsIndividuals cannot be organized - too diverse collective groups Campaign finance reform- capture - lowering the supply per donator not the demand per candidate Answer the question
Tvads propagandaMoneyAnswer question Election year eventMedian voter theorem and closed primary - answer questionElectoral college - 270 2 party system - answer question 3rd party candidate and median voter therein - answer question Public choice theory foundations and questions
As Adam Smith wrote, in the economic market people who only intend to serve their self-interest are driven by an invisible hand to serve the public interest, which was no part of their original intention.
Milton Friedman also explains that just like the economic market, there is an invisible hand in politics but it works in the opposite direction.
“In the government sphere, as in the market, there seems to be an invisible hand, but it operates in precisely the opposite direction from Adam Smith’s: an individual who intends only to serve the public interest by fostering government intervention is ‘led by an invisible hand to promote’ private interests, which was no part of his intention.”
Friedman explains why this happens,
“As we have seen in case after case, the general interest is defused over millions of people, the special interest is concentrated.”
If I decide to put this in unit 5
Remove from unit 3 page 238