Appearance of Corruption

Daron R. Shaw, Brian E. Roberts, Mijeong Baek

"The sanctity of political speech is a key element of the U.S. Constitution and a cornerstone of the American republic. When the Supreme Court linked political speech to campaign finance in its landmark Buckley v. Valeo (1976) decision, the modern era of campaign finance regulation was born. In practical terms, this decision meant that in order to pass constitutional muster, any laws limiting money in politics must be narrowly-tailored and serve a compelling state interest. The lone state interest the Court was willing to entertain was the mitigation of corruption. In order to reach this argument the Court advanced a sophisticated behavioral model, one with key assumptions about how laws will affect voters' opinions and behavior. These assumptions have received surprisingly little attention in the literature. This book takes up the task of identifying and analyzing empirically the...