Democratic Governance and Economic Performance

How Accountability Can Go Too Far in Politics, Law, and Business

Business & Finance, Economics, Public Finance, Nonfiction, Social & Cultural Studies, Political Science
Cover of the book Democratic Governance and Economic Performance by Dino Falaschetti, Springer New York
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Dino Falaschetti ISBN: 9780387787077
Publisher: Springer New York Publication: June 2, 2009
Imprint: Springer Language: English
Author: Dino Falaschetti
ISBN: 9780387787077
Publisher: Springer New York
Publication: June 2, 2009
Imprint: Springer
Language: English

Conventional wisdom warns that unaccountable political and business agents can enrich a few at the expense of many. But logically extending this wisdom implies that associated principals – voters, consumers, shareholders – will favor themselves over the greater good when ‘rules of the game’ instead create too much accountability. Democratic Governance and Economic Performance rigorously develops this hypothesis, and finds statistical evidence and case study illustrations that democratic institutions at various governance levels (e.g., federal, state, corporation) have facilitated opportunistic gains for electoral, consumer, and shareholder principals. To be sure, this conclusion does not dismiss the potential for democratic governance to productively reduce agency costs. Rather, it suggests that policy makers, lawyers, and managers can improve governance by weighing the agency benefits of increased accountability against the distributional costs of favoring principal stakeholders over more general economic opportunities. Carefully considering the fundamentals that give rise to this tradeoff should interest students and scholars working at the intersection of social science and the law, and can help professionals improve their own performance in policy, legal, and business settings.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Conventional wisdom warns that unaccountable political and business agents can enrich a few at the expense of many. But logically extending this wisdom implies that associated principals – voters, consumers, shareholders – will favor themselves over the greater good when ‘rules of the game’ instead create too much accountability. Democratic Governance and Economic Performance rigorously develops this hypothesis, and finds statistical evidence and case study illustrations that democratic institutions at various governance levels (e.g., federal, state, corporation) have facilitated opportunistic gains for electoral, consumer, and shareholder principals. To be sure, this conclusion does not dismiss the potential for democratic governance to productively reduce agency costs. Rather, it suggests that policy makers, lawyers, and managers can improve governance by weighing the agency benefits of increased accountability against the distributional costs of favoring principal stakeholders over more general economic opportunities. Carefully considering the fundamentals that give rise to this tradeoff should interest students and scholars working at the intersection of social science and the law, and can help professionals improve their own performance in policy, legal, and business settings.

More books from Springer New York

Cover of the book Extendable Rationality by Dino Falaschetti
Cover of the book Multi-Net Optimization of VLSI Interconnect by Dino Falaschetti
Cover of the book Nanowire Field Effect Transistors: Principles and Applications by Dino Falaschetti
Cover of the book Tumor Metabolome Targeting and Drug Development by Dino Falaschetti
Cover of the book Applied Issues in Investigative Interviewing, Eyewitness Memory, and Credibility Assessment by Dino Falaschetti
Cover of the book Intelligent Automation and Systems Engineering by Dino Falaschetti
Cover of the book Hilbert by Dino Falaschetti
Cover of the book Supporting Families Experiencing Homelessness by Dino Falaschetti
Cover of the book Brain Inspired Cognitive Systems 2008 by Dino Falaschetti
Cover of the book Island Disputes and Maritime Regime Building in East Asia by Dino Falaschetti
Cover of the book Emerging Trends in Computing, Informatics, Systems Sciences, and Engineering by Dino Falaschetti
Cover of the book Random Signals and Processes Primer with MATLAB by Dino Falaschetti
Cover of the book Phase Diagrams for Geoscientists by Dino Falaschetti
Cover of the book Innovations in Green Chemistry and Green Engineering by Dino Falaschetti
Cover of the book Toward Transformation in Social Knowledge by Dino Falaschetti
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy