The nature of market-preserving government
This paper offers a framework for understanding the origin of market-preserving government. The paper shows that when parties in a Hobbesian society end in an arms race rather than war, they can create a market-preserving government to maintain the no-war equilibrium at lower cost. The government ca...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2024-01-01
|
| Series: | Journal of Government and Economics |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2667319324000351 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1832594118535020544 |
|---|---|
| author | Yi-Jiang Wang |
| author_facet | Yi-Jiang Wang |
| author_sort | Yi-Jiang Wang |
| collection | DOAJ |
| description | This paper offers a framework for understanding the origin of market-preserving government. The paper shows that when parties in a Hobbesian society end in an arms race rather than war, they can create a market-preserving government to maintain the no-war equilibrium at lower cost. The government can be small yet effective or larger and more efficient. Under certain conditions, the parties are better off completely disarming themselves, paving the road for a modern society with equal rights for all citizens and a government monopoly on violence. The war-economic theory of political development sheds light on historical experiences and contemporary policy issues. |
| format | Article |
| id | doaj-art-0b6a66ea49c945c787f4fda99fdd712b |
| institution | Kabale University |
| issn | 2667-3193 |
| language | English |
| publishDate | 2024-01-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Government and Economics |
| spelling | doaj-art-0b6a66ea49c945c787f4fda99fdd712b2025-01-20T04:18:03ZengElsevierJournal of Government and Economics2667-31932024-01-0116100131The nature of market-preserving governmentYi-Jiang Wang0Cheung Kong Graduate School of Business, ChinaThis paper offers a framework for understanding the origin of market-preserving government. The paper shows that when parties in a Hobbesian society end in an arms race rather than war, they can create a market-preserving government to maintain the no-war equilibrium at lower cost. The government can be small yet effective or larger and more efficient. Under certain conditions, the parties are better off completely disarming themselves, paving the road for a modern society with equal rights for all citizens and a government monopoly on violence. The war-economic theory of political development sheds light on historical experiences and contemporary policy issues.http://www.sciencedirect.com/science/article/pii/S2667319324000351D7h1l0n4o0p0 |
| spellingShingle | Yi-Jiang Wang The nature of market-preserving government Journal of Government and Economics D7 h1 l0 n4 o0 p0 |
| title | The nature of market-preserving government |
| title_full | The nature of market-preserving government |
| title_fullStr | The nature of market-preserving government |
| title_full_unstemmed | The nature of market-preserving government |
| title_short | The nature of market-preserving government |
| title_sort | nature of market preserving government |
| topic | D7 h1 l0 n4 o0 p0 |
| url | http://www.sciencedirect.com/science/article/pii/S2667319324000351 |
| work_keys_str_mv | AT yijiangwang thenatureofmarketpreservinggovernment AT yijiangwang natureofmarketpreservinggovernment |