Many people do not know what the state is. Others mistakenly think that states and major corporations are indistinguishable, both being in their eyes powerful and big. Some of us wish to make the state's growth and sources of power intelligible, and we wish better to understand its nature. The agency cost analysis clarifies issues like these by outlining some theory of organizations and applying it to the state. . By looking at the state as an organization, we see how it has extended its control over society. We see more clearly the impediments to controlling the state. We glimpse the virtues of replacing it with free markets to accomplish such tasks as defense, justice, roads, and money.
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