Freakonomics readers know that the answer is no*. Many people like to insist that the answer is yes. Especially, in my experience, people on the left like to talk about Koch Bros. and corporations “buying” elections and the impact of Citizens United.
Well, Romney outspent BO (on TV ads, at least) and who won?
You can’t have your cake…
Remember this during the next election cycle and stop bitching about things that aren’t true.
* – the causality probably runs the opposite direction as people would “like” to believe. That is: candidates that raise more money (and, hence, can spend more money) probably do so because they are going to win (a “market”-like reflection of reality and raising money); candidates don’t win because they raised more money.