With no way to ensure that the isthmus’s short-termers wouldn’t pocket funds designated for the anti-maroon campaign, the king was reluctant to, so to speak, sign the check. The conflict was a version of what economists call the “principal agent” problem: when one party pays another to act on its behalf but can’t readily measure its performance.
Peoria plAnt managers' meeting 10/2-3/2018. MJP
