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The Investment Theory of Party Competition by Ferguson


I got a reference to this theory and took a few minutes to read up about it, and it's really interesting. It reflects my experience with elections, where large donors control the narrative, and that in turn is used to turn out voters. Here's a link to the wikipedia article.

Key points:

  • Money is used to pay to communicate information to voters
  • Voters make decisions based on this information
  • Parties will try to attract big money, to pay for communications, to win

I wonder how this analysis could be used to explain the Biden win, and future party policy.

Closely related is the propaganda model of manufacturing consent.

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This is so important and I wonder do people realize the power of communication and how having no rules within communication benefits people with more money on all sides of the political spectrum.

Manufacturing consent, I'm a big fan of that framing, if you could be a fan of such a thing.

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