THE FOLLY OF REFORM:
CONSEQUENCES OF CAMPAIGN
Reforms that are based on poor assumptions about the empirical effects of money on political campaigns and legislative activity are not likely to accomplish their stated goals. But the problem with campaign finance regulation has been greater than just that. By failing to recognize and understand the actual effect that money has in the political system, the reforms of the past have actually exacerbated many of the problems they were intended to solve, and created new problems along the way. This chapter discusses some of these problems.
Campaign finance reform has generally focused on three specific tactics for promoting change: limiting contributions, whether by individuals, unions