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Do Politicians Serve the One Percent? Evidence in OECD Countries

Torija, P. (2013). Do Politicians Serve the One Percent? Evidence in OECD Countries (Report No. 2013-04). London, UK: City Political Economy Research Centre (CITYPERC), Department of International Politics, City University London.

Abstract

Present 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.

Publication Type: Monograph (Working Paper)
Subjects: H Social Sciences > HC Economic History and Conditions
J Political Science > JA Political science (General)
Departments: School of Arts & Social Sciences > International Politics > CITYPERC Working Paper Series
URI: http://openaccess.city.ac.uk/id/eprint/2114
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