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Line 128:
Line 128: − :McCain would have done better if he declined the federal funding and raised more money on the internet. It's impossible to know how much better.+ − :Freedom is not free. People who want their side to win have to support their side financially.+ − :It may be more effective to send a $50 donation to a candidate's campaign than to volunteer to work for him for a day. For McCain, $50 translated into about 10 votes. Can someone volunteering for a day obtain 10 votes? Perhaps, but only if the time is used efficiently, as in going door to door or making many effective phone calls.+
Economics Lecture Eight (view source)
Revision as of 20:02, October 27, 2009
, 20:02, October 27, 2009→Example 1: Economic Insights into Politics: number
From this simple observation about the differences in funding, several conclusions can be drawn:
From this simple observation about the differences in funding, several conclusions can be drawn:
#McCain would have done better if he declined the federal funding and raised more money on the internet. It's impossible to know how much better.
#Freedom is not free. People who want their side to win have to support their side financially.
#It may be more effective to send a $50 donation to a candidate's campaign than to volunteer to work for him for a day. For McCain, $50 translated into about 10 votes. Can someone volunteering for a day obtain 10 votes? Perhaps, but only if the time is used efficiently, as in going door to door or making many effective phone calls.
The political process in the United States is based on competition just like the free market. Typically the political winner, as in the free market, is the candidate who runs the most efficient campaign and who raises the most money for that campaign from supporters.
The political process in the United States is based on competition just like the free market. Typically the political winner, as in the free market, is the candidate who runs the most efficient campaign and who raises the most money for that campaign from supporters.