Tag Archives: SuperPAC

The Real Impact of Big Money in 2012

One of the narratives that came out of the 2012 campaign was that “the people” (read: Obama backers) narrowly escaped an election hijacked by a narrow band of one-percenters funding Mitt Romney and associated SuperPACS. The reality is somewhat more complicated, as my UMB colleagues Tom Ferguson and Jie Chen and Paul Jorgenson of the University of Texas show in Revealed: Why the Pundits Are Wrong About Big Money and the 2012 Elections. As the authors argue it isn’t that some loose alliance of “the people” beat back big money, but that

Our conclusion is that there is nothing paradoxical about the Republican loss. One campaign funded largely by the super-rich lost to another just about as affluently funded.

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