Getting Money Out of Politics

Getting Money Out of Politics

by Will Wilkinson on June 14, 2011

What are your favorite ideas for reducing the influence of campaign cash on legislators other than limiting legislative power and discretion, placing more restrictions on direct or indirect donations to campaigns, or socializing campaign finance altogether. Here’s what I’ve got so far:
Much longer terms with no chance for re-election.
Very generous pensions for ex-legislators
Prohibition on ex-legislators accepting compensated employment or even unpaid advisory positions within 10, 15, 20, or whatever years after retirement from congress
Prohibition on current or ex-legislators owning stocks, bonds, etc.
Extremely high-prestige automatic membership in posh post-legislative body, e.g., The American Academy of Exalted Deliberation in the Public Interest, the proceedings and findings of which are treated with the utmost interest and respect.
Nobel-like large cash prize and title awarded to one especially exceptional legislator upon retirement (conferred by the AAEDPI, say).

See what I’m after? Dazzle me, public choice folks!