Rubens was a Republican state senator in New Hampshire from 1994 to 1998. He is now on the board of American Promise, which seeks to amend the Constitution to allow tighter controls on money in politics, and New England chairman of the democracy reform group Take Back Our Republic.
Pay-to-play crony capitalism is much more profitable than the rough-and-tumble, generally incremental gains of market competition. Companies can generate a stunning 760-to-1 return on lobbying and campaign contributions in the form of no-bid supply contracts, regulatory favors, loan guarantees, bailouts, and tax loopholes. Monopolies and market concentration are up. Innovation and new business startups are down. This is why we have the world’s highest drug prices, way too many broadband and cellular dead zones, and ethanol in our gasoline.
To read Jim’s op-ed in its entirety click here
