“Madison never foresaw the modern media campaign and the tremendous costs attached to it, thus failing to foresee just how critical large amounts of money would become to the political process. What can be done to correct the problem and maintain the integrity of elections?”
I don’t think a constitutional remedy is required.
I have been toying with some ideas. First, I think candidates should be beholden to their constituents. (Radical, I know) So.... pass a law that at least 1/2 of their campaign money must come from their district.
Second, Axelrod’s objections aside, I do think third parties should have to disclose who they are when they offer their opinion through campaign commercials, opinion commercials, etc.
Third, and this doesn’t directly relate to your question, those who receive checks from the government, business or individuals, should not be able to contribute to campaigns.
How about we not care about funding and start caring about constitutional applications of government?