Study
| EST. READ TIME 1 MIN.Economic freedom reduces violent conflict between nations, according to new research
The index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom. The cornerstones of freedom are personal choice, voluntary exchange, freedom to compete, and security of privately owned property. Thirty-eight components and sub-components are used to construct a summary index and to measure the degree of economic freedom in five areas: (1) size of government; (2) legal structure and protection of property rights; (3) access to sound money; (4) international exchange; and (5) regulation.
In chapter 2, Erik Gartzke, a political scientist from Columbia University, shows that economic freedom reduces violent conflict. As well, he compares the impact of economic freedom on peace to that of democracy on peace. Researchers have long known democracies go to war about as often as other nations but tend not to go to war with each other. However, stable democracies typically have strong levels of economic freedom, leading to the question of whether it is democracy or economic freedom that affects the probability of violent conflict.
Share
-
Erik Gartzke
Erik Gartzke is Associate Professor of Political Science at Columbia University, and a member of the Saltzman Institute of Warand Peace Studies. His research explores the determinants of international conflict and peace. Topics addressed in published academic papers include globalization, economic interdependence, the democratic peace, alliance and deterrence theory, enduring rivalry, and international institutions. He is currently working on a book titled Perpetuating Peace , which lays out the potential, and possible pitfalls, of a capitalist peace. Professor Gartzke received a PhD in Political Science at the University of Iowa in 1997. He taught for three years at the Pennsylvania State University before moving to Columbia University. Professor Gartzke is also a former infantry officer and combat engineer (USAR).… Read more Read Less… -
James Gwartney
Professor of Economics, Florida State UniversityJames D. Gwartney was a Professor of Economics and the Gus A. Stavros Eminent Scholar at Florida State University. He wasthe coauthor of Economics: Private and Public Choice (Cengage/South-Western Press, 2021), a widely used principles of economics text that is now in its 17th edition. He was also coauthor of an economics primer, Common Sense Economics: What Everyone Should Know about Wealth and Prosperity (St. Martin’s Press, 2016). His publications appeared in both professional journals and popular media such as the Wall Street Journal and the New York Times. He served as Chief Economist of the Joint Economic Committee of the US Congress during 1999–2000. In 2004, he was the recipient of the Adam Smith Award of the Association of Private Enterprise Education for his contribution to the advancement of free-market ideals. He was a past President of the Southern Economic Association and the Association for Private Enterprise Education. His Ph.D. in economics was from the University of Washington.… Read more Read Less… -
Robert A. Lawson
Clinical Professor in Economics and Director, Bridwell Institute for Economic Freedom, Southern Methodist UniversityRobert A. Lawson is Clinical Professor in Economics, Jerome M. Fullinwider Centennial Chair in Economic Freedom, and Director of theBridwell Institute for Economic Freedom in the Cox School of Business at Southern Methodist University. He earned his B.S. in economics from the Honors Tutorial College at Ohio University and his M.S. and Ph.D. in economics from Florida State University. A Senior Fellow at the Fraser Institute, he has numerous professional publications in journals such as Public Choice, Cato Journal, Journal of Labor Research, Journal of Institutional and Theoretical Economics, and the European Journal of Political Economy. Prof. Lawson has served as President of the Association of Private Enterprise Education and is a member of the Mont Pelerin Society.… Read more Read Less…
Related Topics
Related Articles
By: Jake Fuss and Grady Munro
By: Jock Finlayson
By: Julio Mejía, Elmira Aliakbari and Tegan Hill