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Volume 22  Number 3  •  Winter 2018
Other Issues:  

Principal-Agent Theory and Representative Government
By Robert Higgs
This article appeared in the Winter 2018 issue of The Independent Review

With very rare exceptions, no principal can count on a hired agent to represent faithfully and consistently the principal’s interests. The principal-agent problem goes a long way in explaining why “representative government” falls far short in carrying out the people’s wishes.

 PDFRead the Full Article (PDF, 2 pages)


Other Independent Review articles by Robert Higgs
    Fall 2017   Freedom of Movement—the Sine Qua Non of Economic Prosperity and Progress
    Summer 2017   Moderation in Response to Provocation Is No Vice
    Winter 2017   First, Do No Harm
[View All (58)]







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