Posted by Wordsmith on 1 May, 2013 at 11:55 am. 2 comments already!


Joshua E. Keating’s War of Ideas:

A recent study in the B.E. Journal of Economic Analysis & Policy tried to do just that, looking at Cheney’s influence on behalf of 15 companies connected to him, including not only Halliburton but corporations whose boards he sat on, as well as firms whose boards included former Halliburton colleagues. If the firms really were dependent on Cheney’s patronage and clout, the study’s authors reasoned, then their stock prices should have risen along with his influence.

The result? A big fat zero. Despite widespread speculation that Halliburton and other Cheney-connected firms benefited from the Iraq war or were nefariously plotting to reconfigure America’s energy future, there was no observable correlation between the powerful veep and a company’s economic performance. Either Cheney didn’t have as much juice as we all thought, or the markets just weren’t picking up on it.

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