Capitalism v. Democracy profiled by The Journal of Economic Literature

I’m glad economists are taking notice of the book’s argument that money in politics corrupts capitalism. Most observers of big political spending and the Supreme Court’s case law focus on the harm inflicted upon democracy. I concur of course and develop facets of that argument; but I add that the harm to capitalism is at least as great, probably larger in fact, than the harm to democracy. (Vol. 53, No. 1, among a few books summarized for the journal’s readers, not a review)

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