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There can't be any doubt on the relationship between politics and money. It is there, it exists and, well, no — it doesn't actually matter that much. (At least, not in this country. One of the interesting things from the New Hampshire primary result in the United States [aside from the result — ed] is that Hillary Clinton spent $31 per vote, John Edwards $32 per vote, and Barack Obama $40 per vote. Mick Romney, rather amusingly, spent $108 per vote.)

Two things this week showed just what an uncomfortable relationship there is between politicians and money: on the one hand, Peter Hain has revealed himself to be a triumphantly stupid idiot, by failing to declare £103,000 of money he received for his deputy leadership bid. (And he still came fifth. What were the donors thinking?)

The second is the announcement that Tony Blair is going to get £500,000 to advise JPMorgan Chase on stuff he really knows about: global political issues and emerging trends. Many people will find this abhorrent, and have it confirm in their mind what a bugger that Blair was etc. etc. To my mind, there are only one or two individuals like him in this world that are in the position to provide that sort of advice, and the market determines that Blair is worth at least £500K.

The other thing that Blair's detractors forget is that many other Prime Ministers, Ministers, politicians and civil servants do this sort of thing all the time, and that it's not unusual (see, for example, here).

Perhaps there's something in it about politicians etc. earning so much after jumping ship being unsavoury. But maybe we just have to accept that that's the way it is, most of us would probably do the same given the chance, and that — whilst the advice is worth the money — someone, somewhere, will always be willing to pay the going rate.

Update: Norm adds his thoughts here. I don't agree about no one earning £500K, though I do agree about this being difficult to take whilst there is, to use Norm's example, child poverty. But he does touch upon what I was trying to get at above: why is it particularly bad that it's Tony Blair that's earning this type of money?

Tags — Politics