Ignored no longer: Contributions of the law of agency to principal-agency theory and congressional leadership

Abstract

Principal-agency theory was adapted from business and economics to explain the behavior of various government actors. Yet the idea of an agent and a principal is only depicted in a limited fashion when discussed in light of the realm of business and economics. Legal studies has grappled with the idea of agency well before political science or economics. I lay out the basic principles of both agency law and Congressional principal-agent theory. I then establish the groundwork for drawing important connections between agency law and principal-agency theory. I also analyze and attempt to ameliorate differences between these two theoretical approaches.

Citation

Phelan, W.J. (2008), "Ignored no longer: Contributions of the law of agency to principal-agency theory and congressional leadership", Sarat, A. (Ed.) Studies in Law, Politics and Society (Studies in Law, Politics, and Society, Vol. 45), Emerald Group Publishing Limited, Leeds, pp. 235-254. https://doi.org/10.1016/S1059-4337(08)45007-X