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According to the text, what gives huge power to bureaucracies and to the civil servants we do not directly elect?
Adverse Selection
A situation in finance and insurance where there is an asymmetric information problem causing bad risks to be more likely to be selected.
Moral Hazard
A situation in economics where one party can take risks because they do not have to bear the full consequences of their actions.
Limited Supervision
This term describes a work environment where employees are given the freedom to complete tasks and make decisions with minimal oversight from managers or supervisors.
Influenza Epidemic
A widespread occurrence of the influenza virus in a community at a particular time, often causing significant illness and fatalities.
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