> He launched Mayday PAC to much fanfare in the spring of 2014, billing it as the "super PAC to end super PACs." But it failed to play a decisive role in any race that year.
As Lessig found out, money by itself cannot buy power. Money is a means for magnifying the impact of forces that are already in play.
Consider, for example, climate change. During the last debate of the last Presidential election, Barak Obama was falling over himself to be more pro-coal than Mitt Romney. Was it because he hoped to court the coal-industry lobbyists and turn their firehose of political spending in his direction? There wasn't a chance in hell of that happening, and he knew it. He did it to court the voters in central and southern Illinois whose livelihoods are dependent on the coal industry there. We're a sprawling suburban nation addicted to cheap gasoline. Energy companies would have tremendous power even if they didn't spend a penny lobbying.
The same is true for banking and finance. People complain about fancy financial instruments, but at the end of the day main street businesses are utterly dependent on payroll loans, consumers are dependent on credit cards, and everyone wants to get a fat adjustable-rate mortgage so they can buy a big suburban house. Do you think banks need to spend any money lobbying to sway politicians in their favor?
And I'll also go out on a limb and suggest that money being a factor in politics isn't as bad as it seems. At least when money can influence politics, the noveau-riche can upset the old guard. Consider the auto industry. Traditional carmakers don't need to spend money to buy political power--the fact that they employ hundreds of thousands of middle-class workers guarantees that. But as traditional cars decline, and the Teslas and Googles of the world remake the industry, it's probably a good thing that those companies can use money to overcome the inertia and political mindshare of existing car companies.