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Abstract
Even though the global economy continues to grow and technological advancements expand horizons, over half of the world’s population experiences profound want and fear on a daily basis. The global poor are predominantly found in countries that are underdeveloped and/or conflict-affected. Traditional economics has failed to provide an analytical framework that is both appropriate and transferrable, particularly in contexts where Westphalian assumptions of statehood do not hold true. Globalization, the rise of nonstate actors, and the existence of persistent low-intensity conflict have reconfigured the geostrategic landscape. By emphasizing the use of economic principles to promote peace through the design and implementation of strategies that foster efficiency and inclusion, peace economics could provide a viable framework for the development and security of fragile states and regions. This article examines the evolution of the discipline, analyzes potential challenges posed by fragile states, and proposes six recommendations for contemporary peace economists.
Highlights
Ever since Adam Smith laid the discipline’s intellectual foundations, economists have wrestled with the welfare implications of diverse approaches to the production, consumption, and distribution of wealth
Peace economics focuses on investments and relationships that promote lasting peace within and among nations
Revisiting definitions many point to the classical economists of the eighteenth and nineteenth centuries who theorized that free trade is peace-enhancing, there is some consensus that the work of Kenneth Boulding, Johan Galtung, Walter Isard, and Jan Tinbergen laid the foundation for peace economics as we know it today
Summary
Data from the Uppsala Conflict Data Program (UCDP) shows the reduction in the number of state-based, battle-related deaths relative to nonstate and one-sided violence deaths between 1980 and 2016. Data from the Armed Conflict Location and Event Data project (ACLED) paints a similar picture for 1997 to 2016. 2. Boulding (1970); Galtung (1982); Tinbergen (1990); Isard (1994)
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