A lesson on money & politics

Think buying political office is easy? Take a look at the instructive case of New York mayor Michael Bloomberg, who had the law amended so he could stand for a third term. Such is Bloomberg’s skill and stature, went the argument, we can’t afford not to have him for another term. During the election, New York’s richest man spent upwards of $100 million of his personal fortune on the campaign – 13 times that of his main rival – yet barely squeaked home with 51 per cent of the vote.

It says a lot for the rambunctious state of American democracy that a) it can accept flexibility in the terms of its elections and b) the people are clearly resistant to big spending.