Answer: these mechanisms might be a) enforceable contracts
, b) repeated interactions c) institutions that alter the distribution of power.
Explanation:
Enforceable contracts means contracts that are achievable by the parties because they have tied to certain padlocks.
Repeated interactions means they are predictable.
Too much power corrupt institutions. If there is redistribution of power there will be better outputs for all the members of society.
Answer:
Bad, mainly because the governmental officials could accept bribes from people to change things, or take their favor in a case, or even bribe the president to pardon them from prison! Thus making the streets more dangerous with all these bad people around.
Also with the government being corrupt, the president could also appoint corrupted judges, so therefore having court cases be unwell.
Taxes could rise without good reason.
Roads and other things wont get fixed.
Government could hoard money, and the economy can fall.
Hope this helped