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- Title
Principal-Agent Theory and Representative Government.
- Authors
HIGGS, ROBERT
- Abstract
The article offers information on principal-agent theory and representative government. Topics discussed include creation of institutional framework for the operation not of a democracy by the framers of the U.S. constitution; economic agent could be immediately fired or penalized according to a formula stipulated in his contract; and Iron Law of Oligarchy came into effect when genuine political representation was impossible for large groups.
- Subjects
POLITICAL science; CONSTITUTIONS; DEMOCRACY; DISMISSAL of employees; CONTRACTS
- Publication
Independent Review, 2018, Vol 22, Issue 3, p479
- ISSN
1086-1653
- Publication type
Article