Power Now that state power exists, how do you channel it for good? Private Policy • Corporate well fare • Generally seen as bad Public Policy • Good of the people Any state that is strong enough to be good, is also strong enough to be bad Problem of legitimacy • In democracy, legitimacy means popular consent • Tradeoff between legitimacy and effectiveness o Inflation and pork-barrel spending Principal - Agent Theory • Principal Agent Agent Agent • Delegation of responsibilities • Do one thing and do it well •
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