Harrison, Mark (2013) Introduction. In: The Economics of Coercion and Conflict. World Scientific Publishing Co. Pte. Ltd.. ISBN 9789814583336

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Abstract

Coercion, n. “1. a. Constraint, restraint, compulsion; the application of force to control the action of a voluntary agent ... b. Forcible restraint of (action) ... 2. Government by force, as opposed to that which rests upon the will of the community governed.”

Conflict , n. “1. a. An encounter with arms; a fight, battle ... b. esp . A prolonged struggle ... c. (without article or pl .) Fighting, contending with arms, martial strife.”

The study of economics begins with trade. In an idealized market, sellers compete with each other for buyers. Under the rules of the market, competition is impersonal and non-violent. Each person makes their best choice, which can include staying out of the market; no one is forced to take part. As Adam Smith (1776/2005: 364) suggested, a result of the sellers’ pursuit of their own private profit is that resources are “led by an invisible hand” towards their best uses. In turn, the buyers’ pursuit of their own greatest satisfaction ensures that everyone gains who takes part willingly. In the outcome, the well-being of society is raised.

Item Type:	Book Item
Subjects:	H Social Sciences > HB Economic Theory
Divisions:	Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH):	War, Cost of, War -- Economic aspects, Political persecution -- Economic aspects, Political violence, Clausewitz, Carl von 1780-1831, Rational choice theory, World War, 1939-1945, Economies of scale, Diminishing returns
Publisher:	World Scientific Publishing Co. Pte. Ltd.
ISBN:	9789814583336
Book Title:	The Economics of Coercion and Conflict
Official Date:	December 2013
Dates:	Date Event December 2013 Published
Date of first compliant deposit:	16 January 2017
Volume:	5
DOI:	10.1142/9081
Status:	Peer Reviewed
Publication Status:	Published

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