4 ms·
Because 3rd parties generally lack both the information and incentives to do as good a job as you would. This is usually known as the "principal-agent problem"[
by spikels 11y ago
Because 3rd parties generally lack both the information and incentives to do as good a job as you would. This is usually known as the "principal-agent problem"[1].
[1] https://en.m.wikipedia.org/wiki/Principal–agent_problem https://en.m.wikipedia.org/wiki/Principal–agent_problem
- eivarv 11y agoI'm not talking about 3rd parties spending people's money as the people wish. People are better off spending their own money in the sense that they get to choose how their money is spent – but their lack of competence/expertise can for instance make them make bad choices (as in choices that don't lead to the desired goal), and resources will thus not be better spent. Don't get me wrong, though – it's not like politicians are experts either. Things are seldom as simple as ideological hardliners claim that they are.