Capitol Investments: The Marketability of Political Skills (Economics, Cognition, and Society)

What would you do if, the very day you were hired, you knew you could be unemployed in as little as two years? You'd seek opportunities in your current job to develop a portfolio of skills and contacts in order to make yourself more attractive to future employers. Representatives and senators think about their jobs in Congress in this way, according to Glenn R. Parker. While in office, members of Congress plan not merely for the next election but for the next stage of their careers. By networking, serving on committees, and championing particular legislation, they deliberately accumulate human capital---expertise, networks, and reputation---which later will give them bargaining power in the job market. Parker's study of the postelective careers of more than 200 former members of Congress, both U.S. representatives and senators, who have left office during the last half century shows that such strategic planning generally succeeds. In most cases, the human capital these politicians amassed while in office increased their occupational mobility and earning power. Capitol Investments offers a sophisticated yet accessible analysis of the acquisition and marketability of political skills. It suggests that an awareness of the trade in human capital shapes an officeholder's actions as much as the desire to win another election. Glenn R. Parker is Distinguished Professor in the Department of Political Science at Purdue University. What Would You Do If, They Very Day You Were Hired, You Knew You Could Be Unemployed In As Little As Two Years? You'd Seek Opportunities In Your Current Job To Develop A Portfolio Of Skills And Contacts In Order To Make Yourself More Attractive To Future Employers. Representatives And Senators Think About Their Jobs In Congress In This Way, According To [author] ... [book Title] Offers A Sophisticated Yet Accessible Analysis Of The Acquisition And Marketability Of Political Skills. It Suggests That An Awareness Of The Trade In Human Capital Shapes An Officeholder's Actions As Much As The Desire To Win Another Election.--book Jacket. Introduction -- Politicians, Institutions, And Human Capital; Or, Becker Goes To Washington -- Methodology : Data And Variables -- Congress As Workplace : The Production Of Marketable Human Capital -- Returns To Specialized Training : Career Mobility And Grooming Lobbyists -- Returns To General Training : Competitive Wages--but At A Price -- Summary Of Findings And Implications. Glenn R. Parker. Includes Bibliographical References (p. 183-191) And Indexes. Contents 8 Figures 10 Tables 12 Acknowledgments 14 Chapter 1 Introduction 16 Chapter 2 Politicians, Institutions, and Human Capital; or, Becker Goes to Washington 32 Chapter 3 Methodology: Data and Variables 61 Chapter 4 Congress as Workplace: The Production of Marketable Human Capital 78 Chapter 5 Returns to Specialized Training: Career Mobility and Grooming Lobbyists 107 Chapter 6 Returns to General Training: Competitive Wages—But at a Price 138 Chapter 7 Summary of Findings and Implications 176 Appendix 196 References 198 Name Index 208 Subject Index 212 9780472070374 A study of the post-elective careers of more than 200 former members of Congress, including US representatives and senators. It offers an analysis of the acquisition and marketability of political skills. It suggests that an awareness of the trade in human capital shapes an office-holder's actions as much as the desire to win another election.