Does Money Control Politics?

[Valjean]

On the other hand:

http://www.bbc.com/news/blogs-echochambers-27074746

Multivariate analysis indicates that economic elites and organised groups representing business interests have substantial independent impacts on US government policy, while average citizens and mass-based interest groups have little or no independent influence.
In English: the wealthy few move policy, while the average American has little power.

 

[Blahface]

I think there are two issues regarding money in politics:

1) Does money control electability of candidates?
2) Does money influence legislation?

On this first part, I think money does directly control electability to a small degree, but not as much as commonly perceived. It does so more indirectly by signaling viability. We have a voting system in which people are penalized if they vote for a candidate that isn't perceived as viable. If we had a system in which voters could always support good candidates like with approval voting, I think social media could balance the effects of money in terms of electability.

On the second part, it absolutely does.