With very rare exceptions, no principal can count on a hired agent to represent faithfully and consistently the principals interests. The principal-agent problem goes a long way in explaining why representative government falls far short in carrying out the peoples wishes.
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|Other Independent Review articles by Robert Higgs|
|Winter 2019||Two Worlds: Politics and Everything Else|
|Fall 2018||Against the Whole Concept and Construction of the Balance of International Payments|
|Summer 2018||Feedback and Correction in Government and the Market|
|[View All (62)]|