What significance should be attached to Hillary Clinton's recent statement that we should "fix our dysfunctional political system and get unaccountable money out of it once and for all, even if it takes a constitutional amendment?"
Adam Smith, the founder of modern economics, got a lot of things right. Here is something he said in 1776 that, with only slight adjustment, describes what is happening to the political system in this country.
As gobs and gobs of money in the form of campaign contributions keep congesting our elections, "We the People of the United States" are forced out of this crucial political process. If we want to reclaim our seats at the decision-making table we're going to have to stamp out Big Money.
Washington's long streak of bad decision-making often comes down to big money's influence in our political system. Our representatives are fettered to well-heeled special interest groups who help fund their campaigns in America's pricey elections.
As a key first step to shining a light on dark money -- election-related funds whose source remains secret -- the president should issue an executive order requiring government contractors to disclose their election-related spending.