Decreases in the the limits placed on money in politics has allowed a small handful of wealthy individuals to have increased influence on government.
These people are referred to as the donor class. Their increased power has led many to question whether we are in fact still a democracy.
Some background:
Question: What is the donor class?
Key characteristics of the political donor class include:
1 - Financial Influence: They have the financial means to donate substantial sums to political campaigns, parties, or political action committees (PACs).
2 - Access to Politicians: Donors often gain access to elected officials and policymakers, allowing them to directly advocate for their interests.
3 - Policy Influence: Their donations can influence policy decisions, as candidates and elected officials may feel indebted to donors and prioritize their concerns.
4 - Diversity: The donor class can include individuals from various industries, such as finance, technology, healthcare, and energy, each with specific policy goals and priorities.
5 - Regulatory Environment: The influence of the donor class is shaped by campaign finance laws and regulations, which vary by country and jurisdiction.
Critics of the political donor class argue that their influence can undermine democratic principles by skewing policy outcomes in favor of wealthy interests, potentially marginalizing the concerns of ordinary citizens who may not have the financial resources to match the influence of major donors.
Readings:
- Democracy and the Donor Class.
- What Elite Donors Want.
- How big is the gap between the donor class and ordinary Americans? Bigger than you think.
- Donor Demographics.
