I wrote something about campaign contributions in federal US elections earlier this year. I could be wrong, but based on my (non-expert) survey of the campaign finance literature, it doesn’t seem like donating to political campaigns has a very substantial impact on election outcomes (most of the time). The main takeaway is that spending and success are correlated, but the former doesn’t cause the latter. Spending is simply a useful heuristic for the size/traction/etc. of a campaign.
I wrote something about campaign contributions in federal US elections earlier this year. I could be wrong, but based on my (non-expert) survey of the campaign finance literature, it doesn’t seem like donating to political campaigns has a very substantial impact on election outcomes (most of the time). The main takeaway is that spending and success are correlated, but the former doesn’t cause the latter. Spending is simply a useful heuristic for the size/traction/etc. of a campaign.