Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't by John Jr. (books that read to you TXT) 📕

42 John Carlson and Kirby Wilbur are the two Seattle areas radio talk show hosts who are being sued. Ralph Thomas and Andrew Garber, “Talk-radio case heard by state high court,” Seattle Times, June 9, 2006, and George F. Will, “Speechless in Seattle,” Newsweek, October 9, 2005, 72.

43 In 1976, federal House races spent $71.5 million, Senate races spent $44 million, and presidential races spent $160 million. By 2004, federal House races spent $660.3 million, Senate races spent $496.4 million, and presidential races spent $1,016.5 million. Adjustments for inflation and population growth were obtained from the consumer price index and the U.S. Census. Joseph E. Cantor, Congressional Campaign Spending: 1976-1996; CRS Report for Congress, August 19, 1997. Herb Alexander, Financing the 1976 Election, 1979, 166.

44 Much of the discussion in this section is based on John R. Lott, Jr., “A Simple Explanation for Why Campaign Donations are Increasing: The Government is Getting Bigger,” Journal of Law and Economics, vol. 42, no. 2, October 2000, 359-393.

45 The Bureau of Economic Analysis at the U.S. Department of Commerce, https://bea.gov/bea/newsrel/gdpnewsrelease.htm.

46 John R. Lott, Jr., “A Simple Explanation for Why Campaign Donations are Increasing: The Government is Getting Bigger,” Journal of Law and Economics ., vol. 42, no. 2, October 2000: 359-393. These numbers hold true even after accounting for factors such as personal income, term limits, population, the closeness of races, the number of candidates running for office, and how closely divided party control of the state government is.

47 “Soros’s Deep Pockets vs. Bush,” Washington Post, February 1, 2005.

48 Ibid.

49 Ibid.

50 Byron York, “America Coming Together Comes Apart,” National Review Online, August 3, 2005.

51 “Turned-off voters shouldn’t be a big surprise,” Editorial, The Pantagraph, Bloomington, Ill., November 1, 2006.

52 Lee Covan, “Negative Campaign Ads,” The Early Show, CBS News, October 24, 2006.

53 Supreme Court Justice Anthony Scalia notes: “A report prepared for Congress concluded that the total amount, in hard and soft money, spent on the 2000 federal elections was between $2.4 and $2.5 billion. J. Cantor, CRS Report for Congress, Campaign Finance in the 2000 Federal Elections: Overview and Estimates of the Flow of Money (2001)” McConnell v. Federal Election Comm’n (02-1674) 540 U.S. 93 (2003) 251 F.Supp. 2d 176, 251 F.Supp. 2d 948. Data on the Federal government’s expenditures is available from the Office of Management and Budget (http://www.white-house.gov/omb/budget/fy2004/hist.html).

54 “Procter becomes nation’s largest ad spender,” The Business Courier (Cincinnati), June 26, 2006. The Proctor & Gamble Company Annual Income Statement (http://www.hoovers.com/procter-&-gamble/—ID__ 11211,period__A—/free-co-fin-income.xhtml). This comparison was first made by the political scientist Herb Alexander.

55 “No need to choose sides, some donors give to both gubernatorial candidates,” Associated Press, August 4, 2006.

56 Gabriel Kahn, “PACs Hedge Bets, Contribute Twice: Even Robb, North,” Roll Call, October 24, 1994. The same article notes that “AT&T’s political director, Donald Goff, insisted that it was against his company’s policy to give to both candidates in a race. However, he said, ‘in a contested primary, you might see money going to both candidates.’”

57 Press release, “Double-giving in the Presidential Campaign,” Public Campaign, March 3, 2000 (http://www.publicampaign.org/pressroom/2000/03/03/whoever-wins-they-win).

58 Much of the discussion in this section is based on Stephen Bronars and John R. Lott, Jr., “Do Campaign Donations Alter How a Politician Votes?,” Journal of Law and Economics, vol. 40, no. 2, October 1997: 317-350.

59 John R. Lott, Jr., “Campaign finance reform and electoral competition,” Public Choice, 2006, 272-273.

60 This quote, and the succeeding ones from Murry, Farrell, Karpinsky, and Tobin, were made in interviews with the author.

61 These included Americans for Democratic Action, the American Dental Association, the National Rifle Association, the Realtor’s PAC, the National Association of Home Builders, United Auto Workers PAC, the National Association of Automobile Dealers PAC, United Food & Commercial Workers International Union, and Lockheed Employees PAC.

62 “Ex-Tyco Officers Sentenced,” Washington Post, September 20, 2005.

63 Much of the discussion here is based on John R. Lott, Jr., “The Effect of Conviction on the Legitimate Income of Criminals,” Economics Letters, vol. 34, no. 12, December 1990: 381-385; John R. Lott, Jr., “Do We Punish High Income Criminals too Heavily?” Economic Inquiry, vol. 30, no. 4, October 1992: 583-608 and John R. Lott, Jr., “An Attempt at Measuring the Total Monetary Penalty from Drug Convictions: The Importance of an Individual’s Reputation,” Journal of Legal Studies, vol. 21, no. 1, January 1992: 159-187.

64 Ibid.

65 McCries is a professor at the John Jay College for Criminal Justice. See David Henry, “Junk-bond wheeler-dealers face dishonor of life after prison,” Chicago Sun-Times, February 18, 1992.

66 A federal appeals court later overturned his conviction. See “Justice Reaches into Allenwood,” Wall Street Journal, May 4, 1990.

67 Devlin Barrett, “Merrill Lynch Assistant Pleads Guilty to being Paid for Keeping Secret Information on ImClone,” Associated Press, October 1, 2002. “Facts about Peter Bacanovic,” Associated Press, July 16, 2004. “Soap Opera,” New York Post, September 20, 2006, 12. Case Digest, “Stewart Conviction Upheld,” New York Law Journal, January 12, 2006, 22.

68 “Martha Stewart and Peter Bacanovic Agree to Settle SEC Insider Trading Charges,” SEC News Digest, August 7, 2006. Administrative Proceedings of the SEC, 34-50284. In the matter of Peter Bacanovic. File No. 3-11615. Securities and Exchange Commission. Http://www.sec.gov/litigation/admin/34-50284.htm.

69 “Two Arrested in LAX Rape Case,” Duke Chronicle, http://www.dukechronicle.com/media/storage/paper884/news/2006/04/19/News/2.Arrested.In.Lax.Rape.Case.Players.Maintain.Innocence-1861119.shtml?norewrite200701041334&sourcedomain=www.dukechronicle.com

70 Ed Bradley, “Duke Rape Suspects Speak Out,” 60 Minutes, CBS News, October 15, 2006 (http://www.cbsnews.com/stories/2006/10/11/60minutes/main2082140.shtml).

71 “Living a Nightmare: LAX Players Speak Out,” Duke Chronicle, http://media. www.dukechronicle.com/media/storage/paper884/news/2006/07/19/MLacrosse/Living.A.Nightmare.Lax.Players.Speak.Out-2132857.shtml?sourcedomain=www.dukechronicle.com&MIIHost=media.collegepublisher.com.

72 “Duke Offers to Reinstate Finnerty, Seligmann for Spring Semester,” Duke Chronicle (http://media.www.dukechronicle.com/media/storage/paper884/news/2006/12/11/News/Duke-Offers.To.Reinstate.Finnerty.Seligmann.For.Spring.Semester-2600229.shtml?sourcedomain=www.dukechronicle.com&MIIHost=media.collegepublisher.com). At the time of this writing, Nifong has been removed from the case, but the three