The involvement of money, specifically during election time, is what we call the political endeavor for campaign finance. It’s the requirement for every candidate who will run for any government position to disclose sources of campaign contributions and campaign expenditure. Exposures of wealthy and influential individuals are well celebrated at this stage of election campaigns.
There are different sources of campaign finance or funding when somebody wants to run for an office. Either they will be financed by groups of wealthy individuals, or large corporations, groups of people or organizations pushing for a specific candidate or from the public contribution.
In the US, an independent regulatory agency called The Federal Commission (FEC) was created in 1975. It was established to describe duties to disclose campaign finance information, implement provisions of the laws and to watch over the public funding of elections. The commission has 6 members, and each will serve a 6-year term, appointed by the President and to be confirmed by the Senate. No member serves as Chairman more than once per year, and the Commission’s Chairmanship alternates among the members each year.
While the Commission’s name entails extensive authority over the election, its main role is actually limited and almost restricted to administration of federal campaign finance laws. It imposes limitations and prohibitions on contribution and expenditures; investigates and prosecutes violations – which typically begins with a complaint; and audits campaign funds. It also aims to publish how much each campaign has raised and spent and reports the list of donors.
Other countries with a democratic system of government follow almost the same rules as in the US. The US is known for having had democracy as their only system of government since their forefathers signed its constitution many centuries ago. The legislature has made changes and reforms every now and then. The board that constitutes the Legislative, Judicial and Executive branches is the main group of people that approves and modifies the laws. Implementation comes after. It’s the most challenging part, but abiding with the rules and regulations can open windows of opportunity for further modification and then eventually will become amendments that need to be discussed on the floor once again.
During election time in some countries, the event normally becomes a big fiasco. It was never a smooth sailing election and campaign. There are a lot of people who want to run for an office, and you can’t help but wonder sometimes if their objective is to really serve for the term intended, at least for the country. Whatever the intentions will be, everyone who runs for a position in the government needs to be ready for a big and expensive campaign.
Financing a specific candidate for an office is a huge task. The campaign is broad and the responsibility seems to be never ending. Defeat is inevitable but to win is much sweeter -- after a long and hard campaign period.