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As time went on though, the principal-agent problem manifested itself in each one.
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One of the worst ideas to come out of academia in the last 50 years is the so-called principal-agent problem.
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Corporate America had a principal-agent problem, they said.
ECONOMIST: Schumpeter
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This creates what economists call a principal-agent problem.
ECONOMIST: Securitisation
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That is held to result when the market suffers from inadequate or inaccurate information delivery, inadequate or insufficient competition, principal-agent problems (where agents fail to represent the interests of their principals), and externalities (where market actors fail to bear the costs of their actions or choices), among other problems.
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In terms preferred by economists, a situation defined by a principal-agent problem (such as you hiring a doctor or car mechanic who gets to both define your problem and figure out what to charge you for fixing it) was replaced by a much simpler employment relationship: would-be hustlers found themselves being turned into professional, generalist managers.
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The Foreign Agents Registration Act (FARA) requires any agent of a foreign principal - including agents of foreign states, political parties, corporations, non-governmental organizations and even individuals - to register with the U.S. Department of Justice as a foreign agent.
CENTERFORSECURITYPOLICY: Center For Security Policy