Joseph Bower — “Political Engagement by Corporations Derives from and is Focused on Seeking Monopolistic Power”

"The essence of the neo-classical theory is the constraint on choice imposed by given and widely shared technology and competitive markets for resources and vendors. Political engagement derives from and is focused on seeking monopolistic power. The various theories of monopolistic competition are instructive but fall far short of the standard sought by neoclassical theory."

Campaign contributions, lobbying, and the revolving door are directed at least in part toward government capture, for the purpose of increasing market  power artificially in the intent of extracting economic rent. Political influence lies outside the scope conditions of the neoclassical framework.

ProMarket — The blog of the Stigler Center at the University of Chicago Booth School of Business
“Political Engagement by Corporations Derives from and is Focused on Seeking Monopolistic Power”
Interview with Joseph Bower, Donald K. David Professor Emeritus at Harvard Business School