Economics Seminar

Speaker: Shanker Satyanath (New York University) - Elite Social Clubs and Political Office Holding

Abstract - Many papers have identified the increasing participation of the rich in politics. There is also a developing literature on the role of social clubs in facilitating political participation. This paper combines the two literatures by identifying the potential contribution of elite clubs in facilitating political participation of the rich. The setting is a natural experiment resulting from the creation of the elite Jockey Club in Argentina in the 19th century. The paper applies the staggered difference in differences technique and uncovers social prestige as a plausible mechanism. The paper also provides descriptive evidence linking elite club membership to prominence in several non political spheres.