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Risks, responsibility and public respect: Cases of entrepreneurs elected in the USA and in Russia

Author

Listed:
  • Konstanin Yanovsky

    (Gaidar Institute for Economic Policy)

  • Sergey Zhavoronkov

    (Gaidar Institute for Economic Policy)

  • Daniel Shestakov

    (Gaidar Institute for Economic Policy)

Abstract

Adam Smith pointed out public respect, prestige as significant component of compensation "for some employment" ("honorableness... of employment"). We assumed, the public moral sanction on success (Weber), public demand for "self-made man" should correlate positively with number of businessmen elected (US Senators, Russian governors and State Duma Deputies). Expressive voting of this sort could support positive pro-market patterns (create positive externalities) - contrary to the "expressive policy (behavior) trap" (Hillman, 2010). During the USA "classical" period ("First 150 years" M. Friedman recommended to take as a model for underdeveloped countries), successful entrepreneurs enjoyed obvious advantages in elections. The same was true for outstanding military-men, for civilian experienced in combat and decorated with awards it also greatly improved their chances to be elected. To hold military heroes in public respect was equivalent of public demand for more quality pure public good "defense" provision. Arising of leftist parties and coalitions, standing for mixed public goods priority provision, accompanied by sensible changes in public respect distribution. Lawyers, businessmen and army officers (military heroes) are crowded out by public servants, "social activists", public school teachers since "Universal Suffrage" institution introduction. In Russia, entrepreneurial status, especially a successful entrepreneurs status, is accompanied by no tangible public recognition. However, the self-esteem of individuals employed in business remains relatively high. The officers "ahead start" was almost unobservable in Russia after very first elections. With our data we also found that economic freedom indicators associated with greater prestige of entrepreneurs within society are positively correlated with voting for pro-market parties and negatively correlated with voting for left.

Suggested Citation

  • Konstanin Yanovsky & Sergey Zhavoronkov & Daniel Shestakov, 2013. "Risks, responsibility and public respect: Cases of entrepreneurs elected in the USA and in Russia," Published Papers 142, Gaidar Institute for Economic Policy, revised 2013.
  • Handle: RePEc:gai:ppaper:142
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    More about this item

    Keywords

    employment prestige; business prestige; public respect; roving anti-business bandit; stationary anti-business bandit; and leftists' electoral support measured negative perception of business;

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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