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One hundred and twelve years ago, Washington became one of the first states to adopt the initiative and referendum process. This gave citizens the ability to overturn laws and write new ones...essentially acting as a check on the power of elected officialsand on lobbyists. But some assert the initiative process has been coopted by the wealthy and powerful. Several initiatives on the ballot this year are sponsored by a hedge fund manager who has spentsix million dollars of his own money. In this edition ofChallenge 2.0, we’ll examine the implications of this trend.
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