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.

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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.

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

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