Stringham, Edward (2004): Commerce, markets, and peace: Richard Cobden's enduring lessons. Published in: Independent Review , Vol. 9, No. 1 (2004): pp. 543-549.
Download (117kB) | Preview
Do capitalism and conflicts go hand in hand? Are the military and markets complements? Indeed, many conservative advocates of markets also passionately support the military, and many people who oppose war also oppose markets. Nineteenth-century writer Richard Cobden, however, maintained that the military and markets were substitutes: more military entails less market. Although the ideas in The Political Writings of Richard Cobden (1903) are a century and a half old, Cobden considered many arguments for military intervention still made today. He discussed whether military spending was beneficial to the economy, to commerce, and to peace, and in all three cases he answered no. Both conservatives and left liberals can learn much from Cobden’s discussion of commerce, markets, and peace. As he demonstrated, the advocate of markets must be an advocate of peace.
|Item Type:||MPRA Paper|
|Original Title:||Commerce, markets, and peace: Richard Cobden's enduring lessons|
|Keywords:||political economy of trade; political economy of war; classical liberal thought|
|Subjects:||B - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: Individuals > B31 - Individuals
H - Public Economics > H5 - National Government Expenditures and Related Policies > H56 - National Security and War
N - Economic History > N4 - Government, War, Law, International Relations, and Regulation > N43 - Europe: Pre-1913
|Depositing User:||Edward Peter Stringham|
|Date Deposited:||27 Oct 2010 21:17|
|Last Modified:||26 Aug 2016 11:39|
Baumol, William. 1990. Entrepreneurship: Productive, Unproductive, and Destructive. Journal of Political Economy 98: 893–921.
Bresiger, Gregory. 1997. Laissez Faire and Little Englanderism: The Rise, Fall, Rise, and Fall of the Manchester School. Journal of Libertarian Studies 13: 45–79.
Cobden, Richard. 1903. The Political Writings of Richard Cobden. London: Fisher Unwin.
Gwartney, James, Robert Lawson, and Walter Block. 1996. Economic Freedom of the World: 1975–1995. Vancouver: Fraser Institute.
Hazlitt, Henry. 1996. Economics in One Lesson. San Francisco: Laissez Faire Books.
Higgs, Robert. 1987. Crisis and Leviathan: Critical Episodes in the Growth of American Government. New York: Oxford University Press.
———. 1992. Wartime Prosperity? A Reassessment of the U.S. Economy in the 1940s. Journal of Economic History 52: 41–60.
Knight, Malcolm, Norman Loayza, and Delano Villanueva. 1996. The Peace Dividend: Military Spending Cuts and Economic Growth. International Monetary Fund Staff Papers 43: 1–37.
Mises, Ludwig von. 1962. The Ultimate Foundation of Economic Science. Princeton, N.J.: Van Nostrand.
Orwell, George. 1968. The Collected Essays, Journalism, and Letters of George Orwell. Vol. 3. Edited by Sonia Orwell and Ian Angus. New York: Harcourt, Brace and World.