Think about it this way, why would funding campaigns matter if the vote wasn’t real? There is no correct answer, because each culture has it’s own power structure, but look at the history of each political system, starting with your own to see how the rules started and each incremental change and shift between the spirit of the law and the letter of the law.
It might help to watch Adam Curtis’ The Century of the Self as a starting point (better yet, Hypernormalization-> Bitter Lake -> Century of the self if you want to go from today to 1920s. Reverse that if you prefer to start earlier).
It would also hell to understand economics as globalization, which is a huge part of the current political climate, is an economic tide (See Thomas Friedman). Milton Friedman (different than Thomas) is really important to current political events, too. I personally like Niall Ferguson and Joel Mokyr as scholars of economic history, but to each their own.
Your take on genuine democracy is fair, especially if we’re referring to the US (as per my assumption). According to this Wikipedia article on The Economist Democracy Index:
The question we’re facing is, if we make it through Trump’s term(s?) with a functional federal gov’t, how can we begin to return to a full democracy, and is that even possible given the trajectory of our economic system.