Abstract

THE political history of the United States is filled with stories about the power of money in shaping public decisions, and concern about this power is a frequent cause for public debate and an occasional cause for public legislation. Nonetheless, despite years of research by political scientists and economists, the extent to which money actually buys political influence on a regular basis remains a mystery. Virtually all scholarly work attempting to document a systematic effect of money on public decisions focuses on the relationship between campaign contributions-especially Political Action Committee (PAC) contributions-and congressmen's roll-call voting behavior.1 Overall, the

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