Business reality vs. wonk theory

posted by
October 5, 2011
EconLog
by Arnold Kling  
Posted in Commentary

"In business, you take the principal-agent problem seriously. If you want your agent to comply with your expectations, you allow for the fact that you will need to clarify your expectations and train the agent to carry them out. If you are a policy wonk, you can skip those steps if you want to. Just assume that you can snap your fingers and everything will take place the way you intend it." (10/05/11)

http://econlog.econlib.org/archives/2011/10/business_realit.html  

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