Money, Parties, and Democracy: Political Finance Between Fat Cats and Big Government

Democratic politics is expensive. In US presidential elections, for instance, total spending now exceeds $6.5 billion. In the US, election campaigns are largely funded by private donations from individuals and corporate entities, whereas in Germany, the state is the main funder of electoral politics through subventions to parties. In some other countries, parties have been able to raise most of what they need internally by charging membership dues or, more exceptionally, by relying on a wea...