Economics Department


Date of this Version



Published in Journal of Economic Issues, Vol. 48, No. 1 (March 2013).


Copyright (c) 2012 F. Gregory Hayden, Alyx M. Dodds Garner, & Jerry L. Hoffman

Supplementary Tables 1-3 are online @ (and are also attached below as "Additional files")


The importance of interlocking board directorships among corporations and between corporations and social organizations has been confirmed for defining the modern political economy. This paper finds the networks of those interlocks for Koch Industries Inc. and TD Ameritrade Holding Corporation and extends the networks to describe and analyze the accompanying political network of contributions to Nebraska political campaigns. For corporate and social networks, conventional theoretical structures are utilized to find the new database of those networks for Koch Industries and TD Ameritrade. The new theoretical structure and database discovered in the research is for the campaign contributions of the board directors in the corporate and social networks, as they are traced to campaigns for federal offices (see columns I, J, K and L of Figure 3 and Tables 1 and 2). The new political campaign finance structure discovered here includes thousands of interconnected campaign finance conduits through which money flows to political campaigns.

JEL Codes: B52, D72, Z18

Table 1_Koch.xlsx (51 kB)
Corporate, Social, and Political Network of Koch Industries, Inc. (577 lines x 16 columns)

Table 2_TD Ameritrade.xls (171 kB)
Corporate, Social, and Political Network of TD Ameritrade Holding Corporation (659 lines x 16 columns)

Table 3 Overlapping conduits with ovals PDF.pdf (25 kB)
Examples of Overlapping Conduits from Networks (1 page)