Journal of Political Risk, Vol. 4, No. 6, June 2016
Bhakti Mirchandani
Senior Vice President at An Alternative Investment Management Firm
Abstract
Popular resentment of changes in the economy and of the political elites administering some of those changes is palpable during this year’s presidential campaign.[1] Public distrust is rife: the electorate views narrow moneyed interests as increasingly driving public policy and the legislative process as broken.[2] At the same time that American voters are “tired of Washington politicians,”[3] the legacies of Presidents without elected office experience before being sworn into the Oval Office demonstrates the difficulty for outsiders to be effective Presidents. Numerous academics, such as Arthur Schlesinger, have dedicated decades and thousands of pages to presidential backgrounds and legacies, and every four years the media examines the credentials of prospective and prior Presidents. This article is a short opinion piece about the shortcomings of past outsider Presidents. Their flaws ranged from cognitive bias to tolerance of corruption and from excessive use of clandestine plots to lack of political skill. Only two of the five outsiders–Dwight Eisenhower and Ulysses Grant–were reelected to second terms.