Class Hegemony and Political Finance: Presidential Campaign Contributions of Wealthy Capitalist Families

Abstract

This research examines the campaign contributions of 629 members of 100 wealthy capitalist families to the presidential campaign of 1972, the last campaign conducted without any limits on individual contributions. The analysis reveals that roughly half of the members of these families contributed little or nothing to this presidential campaign, but other family members were often major contributors. Family members who were most visible as corporate directors or foundation trustees or who were listed in Who's Who in America contributed the most to this campaign. In addition, wealthy entrepreneurs contributed more to the campaign than members of subsequent generations of wealthy capitalist families. Members of wealthy Jewish and Southern families contributed slightly more to the Republican party than the Democratic party, but they contributed much more to the Democratic party than did the members of other wealthy capitalist families. In addition, the members offamilies that were major stockholders in oil companies or companies with large government contacts contributed more to the campaign than did the members of other wealthy capitalist families. Conversely, the members of families that were major stockholders in media companies contributed relatively little to this campaign.