It doesn't necessarily imply that the electorate is uneducated and easily swayed. I think it's more likely that most of the time these elections are a close call and campaigning sways people who are in the middle or motivates people who might not otherwise vote.
The argument basically just implies that advertising has some influence. Which is true - even for an educated and informed audience. Nothing you do to the electorate can make them immune to advertising. So money will always be a motivation for politicians. Especially since extra campaign money can always be spent on all kinds of fun expenses, and giving well paying jobs to friends and family.
Also, bear in mind that even the most well informed educated electorate has a very limited feedback mechanism. Many people care so strongly about particular issues that they will never change their vote. Which means people in the middle ground only really get to choose between the two main political parties. In practise, it works out a bit like a price fixing cartel. Basically both parties take turns screwing everyone over. Candidates only have to make the appearance of being better than the last guy during election time. During their last term they can do whatever they want, which sets the bar really low for the next guy. It's a race to the bottom.
As long as the influence of money is present, politicians will behave as corruptly as they can get away with. Improving the education level of the electorate reduces the amount politicians can get away with, but because of the two party system, they'll always be able to get away with a lot.
The argument basically just implies that advertising has some influence. Which is true - even for an educated and informed audience. Nothing you do to the electorate can make them immune to advertising. So money will always be a motivation for politicians. Especially since extra campaign money can always be spent on all kinds of fun expenses, and giving well paying jobs to friends and family.
Also, bear in mind that even the most well informed educated electorate has a very limited feedback mechanism. Many people care so strongly about particular issues that they will never change their vote. Which means people in the middle ground only really get to choose between the two main political parties. In practise, it works out a bit like a price fixing cartel. Basically both parties take turns screwing everyone over. Candidates only have to make the appearance of being better than the last guy during election time. During their last term they can do whatever they want, which sets the bar really low for the next guy. It's a race to the bottom.
As long as the influence of money is present, politicians will behave as corruptly as they can get away with. Improving the education level of the electorate reduces the amount politicians can get away with, but because of the two party system, they'll always be able to get away with a lot.