"Appearance and Reality in Public Life"

It appears that we are in the nightmare scenario:

The nightmare scenario for democracy:

• Elected officials have no sincere adherence to the public good; they pursue their own private and political interests through all the powers available to them. (Senator Jim Bunning's unembarrassed willingness to block extension of unemployment legislation for narrow personal and political reasons falls in this category.)
• Elected officials are sometimes overtly corruptible, accepting significant gifts in exchange for official performance.
• Elected officials are intimidated by the power of private interests (corporations) to fund electoral opposition to their re-election. (The Supreme Court decision on corporate free speech makes this much more likely.)
• Regulatory agencies are dominated by the industries they regulate; independent commissioners are forced out of office; and regulations are toothless when it comes to environmental protection, wilderness protection, health and safety in the workplace, and food safety.
• Lobbyists for special interests and corporations have almost unrestricted access to legislators and regulators, and are generally able to achieve their goals.

Economist's View: "Appearance and Reality in Public Life"