Wherever one finds elections, one finds money. Add to this truism the fact that citizens always pay for parties and elections, whatever the particular financing scheme (private, public, or some mix). In spite of the apparent significance of the issue, little consensus exists on how, exactly, to set up a campaign finance regime. There are no grand theories on the best system, no set answers to the fundamental questions involved: How much spending is too much? Should the state become involved to ensure a system's fairness? Is spending the same as free speech? Will an automatic benefit exist for the financially advantaged? Can elections be bought? Most people favor free and fair elections, for this is the foundation of governmental legitimacy. Agreeing on how to get there is another story. Four key areas must be examined to comprehend the vast complexity of campaign finance around the...