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FUNDRAISING. This sort of thing isn't my specialty, but I think the main story out of this quarter's fundraising results is Edwards' poor performance. $9 million is really paltry, particularly when Obama is proving that excitement can generate donations as efficiently as corporate kowtowing. Edwards, who's expended considerable energy courting the online left, isn't seeing much money from the effort -- which demonstrates, in part, that the online left is a very different universe from Democrats who are online. As for Obama's staggering total, I think Chris Hayes gets it right:
the psychology and motivations for small donors is quite different than for large donors. If you’re a big donor, you want access: a rubber chicken dinner, a photo-op, maybe a phone call answered. For small donors, it’s entirely a different calculation. It’s not because you think the $50 will buy you influence, or even, really, make that big of a difference. It’s an identity statement, and a desire to be a part of something. When you pay that money, you become part of the Obama Phenomenon. That’s what people are buying.Fundraising is all about the selling of politics. Generally, that's done by selling votes, support, access, legislation. Obama is showing that there are other products generated by politics and rewarded by voters: Inspiration, hope, belonging. As readers know, I'm a cynic about such appeals, but I'm sure glad my countrymen aren't.--Ezra Klein
