GOVT 103 Chapter Notes - Chapter 1-5: Dual Federalism, Equal Protection Clause, Moral Hazard

• School: George Mason University
• Department: Government and International Politics
• Course: GOVT 103
• Professor: Sockett

Document Summary

To maintain order, to protect private property, to provide public goods. Enjoying the benefits of some good or action while letting others bear the cost. The pooling of recourses and the coordination of effort and activities by a group of people ( a large one) to achieve common goals. In the absence of incentives, rational individuals do not contribute. The articles of confederation failed because of the lack of a strong central government. The principal might not be aware of all the aspects/consequences of an action taken by their agent. What is the principle-agent problem: principals must trust other actors to make decisions for them, but cannot oversee/confirm agents" actions in detail, regulatory administration, matter of trust (individual vs. group incentives) It is unconstitutional for maryland to tax on the bank. Congress had a power to charter a bank. Name three types of federalism and examples of each.