Risks, responsibility and public respect: Cases of entrepreneurs elected in the USA and in Russia

Konstanin Yanovsky, Sergey Zhavoronkov and Daniel Shestakov
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Konstanin Yanovsky: Gaidar Institute for Economic Policy
Daniel Shestakov: Gaidar Institute for Economic Policy
Authors registered in the RePEc Author Service: Konstantin Moshe Yanovskiy

Published Papers from Gaidar Institute for Economic Policy

Abstract: Adam Smith pointed out public respect, prestige as significant component of compensation "for some employment" ("honorableness... of employment"). We assumed, the public moral sanction on success (Weber), public demand for "self-made man" should correlate positively with number of businessmen elected (US Senators, Russian governors and State Duma Deputies). Expressive voting of this sort could support positive pro-market patterns (create positive externalities) - contrary to the "expressive policy (behavior) trap" (Hillman, 2010). During the USA "classical" period ("First 150 years" M. Friedman recommended to take as a model for underdeveloped countries), successful entrepreneurs enjoyed obvious advantages in elections. The same was true for outstanding military-men, for civilian experienced in combat and decorated with awards it also greatly improved their chances to be elected. To hold military heroes in public respect was equivalent of public demand for more quality pure public good "defense" provision. Arising of leftist parties and coalitions, standing for mixed public goods priority provision, accompanied by sensible changes in public respect distribution. Lawyers, businessmen and army officers (military heroes) are crowded out by public servants, "social activists", public school teachers since "Universal Suffrage" institution introduction. In Russia, entrepreneurial status, especially a successful entrepreneurs status, is accompanied by no tangible public recognition. However, the self-esteem of individuals employed in business remains relatively high. The officers "ahead start" was almost unobservable in Russia after very first elections. With our data we also found that economic freedom indicators associated with greater prestige of entrepreneurs within society are positively correlated with voting for pro-market parties and negatively correlated with voting for left.

Keywords: employment prestige; business prestige; public respect; roving anti-business bandit; stationary anti-business bandit; and leftists' electoral support measured negative perception of business (search for similar items in EconPapers)
JEL-codes: D72 K22 P16 Z13 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2013, Revised 2013
New Economics Papers: this item is included in nep-cdm, nep-cis, nep-pol and nep-tra
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https://www.iep.ru/files/RePEc/gai/ppaper/142Yanovsky.pdf Revised version, 2013 (application/pdf)

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