The situation where politicians make decisions that will raise their chances of reelection, even if those decisions are detrimental to the general public, is referred to as the:

Question

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The principal-agent problem occurs when there is a conflict of interest between a principal (such as the public) and an agent (such as a politician) who is supposed to represent them. In this case, the politician may prioritize their own reelection over the best interests of the public they serve. This can lead to decisions that benefit the politician in the short-term, but are not in the long-term interests of the public.

The Situation Where Politicians Make Decisions That Will Raise Their