Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/251231 
Authors: 
Year of Publication: 
2013
Series/Report no.: 
CITYPERC Working Paper No. 2013-04
Publisher: 
City, University of London, City Political Economy Research Centre (CITYPERC), London
Abstract: 
Present social movements, as "Occupy Wall Street" or the Spanish "Indignados", claim that politicians work for an economic elite, the 1%, that drives the world economic policies. In this paper we show through econometric analysis that these movements are accurate: politicians in OECD countries maximize the happiness of the economic elite. In 2009 center-right parties maximized the happiness of the 100th-98th richest percentile and center-left parties the 100th-95th richest percentile. The situation has evolved from the seventies when politicians represented, approximately, the median voter.
Document Type: 
Working Paper

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