A Theory of Trustees, and Other Thoughts

Independent central bankers and judges can both be more usefully viewed as examples of trustees than as agents. A trust is alegal insitution with rules set up by a settlor, administered by a trustee on behlaf of beneficiaries. Public trustees often are motivated more by Pride, Policy, Place and Power than by money, and economists should take this into account.

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Year of publication:	1998
Authors:	Rasmusen, E.
Institutions:	Department of Economics, Indiana University
Subject:	CENTRAL BANKS \| TRUSTS

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Series:	Indiana - Center for Econometric Model Research.
Type of publication:	Book / Working Paper
Notes:	13 pages
Classification:	D73 - Bureaucracy; Administrative Processes in Public Organizations; Corruption ; D72 - Economic Models of Political Processes: Rent-Seeking, Elections, Legistures, and Voting Behavior ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005487193