Classic economics teaches us that money gets spent most wastefully when you're allocating other people's funds toward individuals you'll never meet. Therein lies the fundamental inefficiency—when the spender isn't personally invested in the outcome, accountability vanishes. It's an elegant way to describe the structural problem with large centralized institutions managing public resources. The misalignment of incentives creates a cascade of poor decisions, which is precisely why many in the crypto space believe in decentralized systems where accountability is baked into the protocol itself.