Do Politicians Serve the One Percent? Evidence in OECD Countries
AbstractPresent social movements, as "Occupy Wall Street" or the Spanish "Indignados", claim that politicians work for an economic elite, the 1%, that drives the world economic policies. In this paper we show through econometric analysis that these movements are accurate: politicians in OECD countries maximize the happiness of the economic elite. In 2009 center-right parties maximized the happiness of the 100th-98th richest percentile and center-left parties the 100th-95th richest percentile. The situation has evolved from the seventies when politicians represented, approximately, the median voter.
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Bibliographic InfoPaper provided by Department of International Politics, City University London in its series CITYPERC Working Paper Series with number 2013-04.
Date of creation: 2013
Date of revision:
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Postal: Department of International Politics, Social Sciences Building, City University London, Whiskin Street, London, EC1R 0JD, United Kingdom
Phone: +44 (0)20 7040 8500
Web page: http://www.city.ac.uk/arts-social-sciences/international-politics/
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-03-16 (All new papers)
- NEP-PKE-2013-03-16 (Post Keynesian Economics)
- NEP-POL-2013-03-16 (Positive Political Economics)
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Inequality, evolution & complexity
by chris dillow in Stumbling and Mumbling on 2013-03-22 15:04:39
- 'Inequality, Evolution, & Complexity'
by Mark Thoma in Economist's View on 2013-03-22 17:59:55
- Who cares about the median voter? Not the politicians, maybe
by Economic Logician in Economic Logic on 2013-04-05 15:26:00
- Radical Centrism: Uniting the Radical Left and the Radical Right
by Ashwin in Macroeconomic Resilience on 2013-04-08 13:54:59
- Age, luck & unearned privilege
by chris dillow in Stumbling and Mumbling on 2013-05-01 13:23:22
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