Why are congressmen so motivated to stay in office, make $175k a year, exert a minimal amount of real power, and spend their time catering to lobbyists and making socially suboptimal decisions? I’m sure they could make twice as much in the private sector. I feel like there’s something obvious that I’m missing here, but I’m genuinely confused.
I think it’s mostly about the social status that comes from membership in an elite. But just from the financial side, the big money for elected officials doesn’t come during office, but after they retire and become a lobbyist or de facto lobbyist. Retired big name politicians usually wind up on multiple corporate boards, collecting lots of money for very little work. It’s “pay for access.” For example, Al Gore was put on Apple’s board of directors in 2003, and reaped millions. Some ex-politicians do better on public speaking fees or books.
It does seem that it’s mostly a status thing. If the big money comes after the retire, that would make me think that they’d be eager to get out, rather than eager to stay in.
I don’t think money is the primary motivation. However even for people who do just want money, the amount of money they make is commensurate to the length and prestige of their political career.
As I already stated, the biggest advantage is “access.” Having a big name politician on your board means you can have them chat with their friends in congress about why they should vote yes/no on a certain bill. It helps the company convey their opinions to the people who matter. There are other advantages, like increasing the organization’s prestige, and having access to someone with a great deal of knowledge about the political process (who might be persuaded, who is a lost cause, etc.)
I think it’s mostly about the social status that comes from membership in an elite. But just from the financial side, the big money for elected officials doesn’t come during office, but after they retire and become a lobbyist or de facto lobbyist. Retired big name politicians usually wind up on multiple corporate boards, collecting lots of money for very little work. It’s “pay for access.” For example, Al Gore was put on Apple’s board of directors in 2003, and reaped millions. Some ex-politicians do better on public speaking fees or books.
It does seem that it’s mostly a status thing. If the big money comes after the retire, that would make me think that they’d be eager to get out, rather than eager to stay in.
I don’t think money is the primary motivation. However even for people who do just want money, the amount of money they make is commensurate to the length and prestige of their political career.
How exactly does that work? Why value can a retired politician offer a big corporation?
As I already stated, the biggest advantage is “access.” Having a big name politician on your board means you can have them chat with their friends in congress about why they should vote yes/no on a certain bill. It helps the company convey their opinions to the people who matter. There are other advantages, like increasing the organization’s prestige, and having access to someone with a great deal of knowledge about the political process (who might be persuaded, who is a lost cause, etc.)