Word: galbraith
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John Kenneth Galbraith has proposed that private contributions to political campaigns be sharply curtailed and replaced with public grants...
...Galbraith, Paul M. Warburg professor of Economics and former ambassador to India, said the change was necessary to reduce the influence of large contributors...
...sharks, insurance brokers, job seekers and a variety of multiple-purpose grifters contribute money in the manner of architects in the expectation that if their man is elected he will assist them in practicing their particular art, on behalf of and at the expense of, the people of Massachusetts," Galbraith wrote in the Boston Globe. The article, which ran as a banner story on page one of yesterday's morning edition, had been requested by the newspaper...
...From this outlay," Galbraith continued, "they [the contributors] retrieve enough future income to pay off the investment with a reasonable profit...
...Galbraith does not propose the complete elimination of private contributions. Rather he suggests a limit of $25 per person in any one general or primary election. "All such contributions would be paid not to the candidate but to the state auditor, who would in turn redistribute them to the designated candidates .... It will be observed that this arrangement would allow public participation in campaign financing and allow a candidate with a genuinely wide following to benefit therefrom...