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Corporate Political Spending
The lack of transparency in corporate political spending has is an ethical issue, because the lack of transparency has very much worked in favor of corporate donors. This is a high moral intensity issue because corporations have unique ability to earn income, essentially unmatched by individuals. Individuals who control corporations -- people who are already rich and powerful -- then control an even greater amount of assets with which to influence the political process to their benefit. However, when political actions serve the interests of those who are wealthy and powerful, in general there is a trade-off and those who lack this wealth and power pay the cost. Evidence suggests that corporate political activity is positively correlated with financial performance (Lux, Crook and Woehr, 2011).
This is where the transparency issue arises. When corporations can donate as much as they want to any candidate, but have those donations remain secret, the public then has no idea which candidates are dependent in which corporations. It takes a lot of money to run a political campaign, so there is a dependency relationship between politicians and large donors. While typically the quid pro quo in this relationship...
It undermines the spirit of the democratic system under which we theoretically live, if not the law.
With limitless corporate political spending, and no transparency with respect to that spending, it can be difficult for the media and by extension the general public to know whether politicians are acting in an impartial manner with the laws that they pass. This is the reason why campaign finance laws were passed in the first place, if for nothing else than to assure public confidence in their government, and the recent end of campaign finance regulations all but destroys that confidence (Kang, 2012). There is sufficient evidence to show that they are not. In many cases, industry or its lobbyists write laws, which politicians then sign. This is not how the system is intended to work, and there is minimal debate about these laws. The interests of voters is thus circumvented, so that only the corporate interests are represented, or for that matter any group with enough money to hold influence over politicians.
The evidence of the perils of this system is not just found in the way that the system functions today,…
References
Kang, M. (2012). The end of campaign finance law. Virginia Law Review. Vol. 98 (1) 1-63
Lux, S., Crook, T., & Woehr, D. (2011). Mixing business with politics: A meta-analysis of the antecedents and outcomes of corporate political activity. Journal of Management. Vol. 37 (1) 223-247.
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