Contrary to what news reports might suggest, the majority of
politicians behave ethically and are never subject to
investigations. Is this because of the elaborate system of rules
Congress has constructed to regulate the conduct of its members as
well as the fear of electoral reprisal? Drawing on economic
literature on the behavior of firms, Glenn Parker answers no. He
argues that members of Congress behave ethnically not because of
the fear of punishment but because of their concern for their
reputations. He draws parallels between politicians and businesses,
since both stand to suffer significantly when accused of
wrongdoing.
Just as business' poor behavior can cause brand names to be
tarnished, prices to plummet, and future business to disappear,
dishonest politicians stand to sacrifice the human capital invested
in their careers, and premiums for honesty, such as electoral
security and prestigious post-elective employment. Parker explores
public attitudes toward the behavior of members of Congress and
shows how those attitudes shape the way members conduct their
professional lives. Written from the perspective of public choice,
this book offers a novel approach to the question of how to keep
politicians honest.
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