Political capital can best be described as good will. It is earned, traded-for, bought and occasionally extorted. It is the currency of the political world.
Political capital is occasionally in the form of money -- especially during the campaign season. But that money is for creation of good will -- either from the donor, or for the candidate through his expenditure on the campaign. It is designed to create influence in one's favor.
It is often the result of providing someone or group with something they want. This occurs through votes on legislation. It occurs when organizations seek to influence their members.
It is traded-for when I vote for your pet project if you'll vote for mine. It is extorted when I withold my vote if you don't perform according to my wishes.
Political capital, just like economic capital in business, is what makes the machine work. It is earned and it is spent. It is power and influence. Do we as bloggers create and use political capital? Some do and some don't. I think there is plenty of opportunity to do more.
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