Final answer:
The objective of legislators is to represent their constituents' interests, which can be interpreted as directly conveying their constituents' preferences (delegate model) or using their judgment to act in the best interests of their constituents (trustee model). Their roles include lawmaking, staying informed about constituents' opinions, and overseeing the executive branch. They also work on macroeconomic policy to improve the nation's economic health.
Step-by-step explanation:
According to the economic theory of government, the objective of legislators can vary depending on the perspective adopted. Edmund Burke provided two primary views: the delegate model and the trustee model. In the delegate model, legislators are seen as representatives who directly convey the policy preferences and views of their constituents through legislative actions. They learn what the people want and represent those interests. Alternatively, in the trustee model, legislators have more autonomy to act in what they believe are their constituents' best interests based on informed judgment, using their own expertise and wisdom.
Legislators have a variety of roles, including creating laws to address policy issues, evaluating existing laws, staying in touch with constituents, and performing oversight of the executive branch to ensure the implementation of legislation. Political parties play a significant role in aligning legislators’ goals and helping to navigate the political process.
In a broader economic context, governments are involved in macroeconomic policy-making through fiscal policy (government spending and taxes) and monetary policy (bank lending, interest rates, and financial capital markets), with goals such as improving the standard of living, maintaining low unemployment, and keeping inflation low. These objectives are pursued within the structure of federal agencies such as the Congress, the Federal Reserve, and the executive branch in the United States.