Governmental and private sector corruption is one of the most fundamental yet underappreciated threats to efficacious and democratic governance, transparency and the rule of law. The founders themselves understood the constant danger of power and wealth seeking by elected officials and the importance of limiting this obstruction of healthy democracy. Today, questions are raised about the nauseating and seemingly never ending injection of money into political campaigns as a means to alter public opinion and the subsequent effects on the integrity of the American democracy.
Since the late 19th century, campaign financing has been a hotbutton issue. Just as it was then, now perhaps more than ever, it is evident that money makes a difference in politics. As understood (and perhaps taken for granted) as that may seem, what is not so obvious is the following: exactly how substantial is that difference (especially on the functioning of our political system and on the formation of our opinions about politics)? Does money help to exaggerate partisan animosity among the populace? How important is disclosure? How financially “dark” is the current presidential race with respect to others in the past, why does this matter and what are the implications for the future of American democracy?
Despite past congressional action being taken in the Foreign Corrupt Practices Act of 1977 as a result of a series of corruption scandals (the Watergate scandal and subsequent resignation of President Richard Nixon) which then illuminated the political ills of corporate corruption and bribery and incensed national ire, the United States anti-corruption regime (with respect to businesses and bribery to overseas entities) has only in the past decade come to life as FCPA prosecutions have skyrocketed and devastating fines and penalties have been doled out. What role does international business play in domestic American politics and vice versa?
The United States Congress in tandem with the Department of Justice and SEC has increasingly cast a scathing eye on those engaged in private-to-public corruption in accordance with the augmentation of international business transactions and the phenomenon of globalization. It has allied with other nations worldwide in an effort to stem corruption with the purpose of promulgating democracy, legitimate governance and civil confidence. What does the United States led effort to address corruption in other states private-to-public matters (such as in Russia in the Sergei Magnitsky bills currently disputed in congress) say about our feelings towards corruption and government? More importantly, are such sentiments reflected in the handling of corruption here at home?
My paper strives to answer some of the questions raised above and to examine the origins of the global American anti-corruption regime, reasons for its recent and constant expansion, and its effects on politics, society and (international and domestic) private enterprise. I am planning to also explore the controversy in the current presidential race with respect to historic amounts of money being injected into campaigns by private entities (and whether or not this private actions corrodes democracy), recent efforts in campaign finance reform and public perceptions on corporate influence in politics.
I really hope that you all are having a fantastic semester thus far. I plan to go through each of your proposals and so as to see if I can be of any assistance in direction or clarity. I am very much in the beginning stages of my paper and any help or opinions would be very much appreciated!
Leonard Horne ’13
International Studies and Spanish
Morehouse College
The Center for the Study of the Presidency & Congress - Presidential Fellows Blog 
Leonard,
Great topic, and a huge topic. I would be particularly interested in reading about the role of non-American investors in U.S. Presidential campaigns. Is this positive? In contemporary international finance, is a foreign entity (or a global entity) justified in attempting to influence fiscal policy? Interest-rate regimes?
Good luck!
Hey Leonard, I’m very interested to learn more about your paper in November. If you haven’t already considered it, you might want to look into the implications of campaign financing on aggregate levels of inequality and provision of public services. In Joseph Stiglitz latest book (The Price of Inequality: How Today’s Divided Society Endangers Our Future, W. W. Norton & Company, 2012), he discusses this in depth. Here’s an excerpt of the book, printed in the New York Times article, “Separate and Unequal” (http://www.nytimes.com/2012/08/05/books/review/the-price-of-inequality-by-joseph-e-stiglitz.html?pagewanted=all):
“Inequality leads to lower growth and less efficiency. Lack of opportunity means that its most valuable asset — its people — is not being fully used. Many at the bottom, or even in the middle, are not living up to their potential, because the rich, needing few public services and worried that a strong government might redistribute income, use their political influence to cut taxes and curtail government spending. This leads to underinvestment in infrastructure, education and technology, impeding the engines of growth. . . . Most importantly, America’s inequality is undermining its values and identity. With inequality reaching such extremes, it is not surprising that its effects are manifest in every public decision, from the conduct of monetary policy to budgetary allocations. America has become a country not ‘with justice for all,’ but rather with favoritism for the rich and justice for those who can afford it — so evident in the foreclosure crisis, in which the big banks believed that they were too big not only to fail, but also to be held accountable.”
I look forward to hearing more!
Leonard,
Fantastic topic. One of the things I discovered last year while working with some Foreign Commerical Service (FCS) Officers is that foreign (in this case Russian) businessmen are somewhat baffled by FCPA enforcement abroad. They initially can’t believe that American law could apply to them (until their American partners threaten to cut off ties to avoid FCPA prosecution!). In your research, have you come across any other truly global anti-corruption regimes similar to FCPA?
Best,
Jon Askonas
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