Empire: Public Goods and Bads
AbstractTheodore Roosevelt used the US military to create what he called â€œcivilized societies.â€ A growing literature focuses on the economic benefits of empires, benefits sometimes referred to as â€œglobal public goodsâ€. Some authors, such as Mitchener and Weidenmier (2005) and Ferguson and Schularick (2006), neglect the associated public bads. This paper highlights the potential public bads. We formulate the leading public bads. We explore the public bads in the context explored by Mitchener and Weidenmier, namely, the Roosevelt Corollary and Latin America. Our discussion also moves to the broader plane, suggesting that the Roosevelt Corollary set a precedent for subsequent US military interventions around the world. We use the ratings of political institutions issued by the well-known Polity IV index to further support a skeptical view of imperial public good provision.
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Bibliographic InfoArticle provided by Econ Journal Watch in its journal Econ Journal Watch.
Volume (Year): 4 (2007)
Issue (Month): 1 (January)
empire; imperialism; global public goods; global public bads; Roosevelt Corollary;
Find related papers by JEL classification:
- N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
- N46 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Latin America; Caribbean
- P11 - Economic Systems - - Capitalist Systems - - - Planning, Coordination, and Reform
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Niall Ferguson & Moritz Schularick, 2004.
"The Empire Effect: The Determinants of Country Risk in the First Age of Globalization, 1880-1913,"
04-03, New York University, Leonard N. Stern School of Business, Department of Economics.
- Ferguson, Niall & Schularick, Moritz, 2006. "The Empire Effect: The Determinants of Country Risk in the First Age of Globalization, 1880 1913," The Journal of Economic History, Cambridge University Press, vol. 66(02), pages 283-312, June.
- Kris James Mitchener & Marc D. Weidenmier, 2004. "Empire, Public Goods, and the Roosevelt Corollary," NBER Working Papers 10729, National Bureau of Economic Research, Inc.
- Mitchener, Kris James & Weidenmier, Marc, 2005. "Empire, Public Goods, and the Roosevelt Corollary," The Journal of Economic History, Cambridge University Press, vol. 65(03), pages 658-692, September.
- Demsetz, Harold, 1969. "Information and Efficiency: Another Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 1-22, April.
- Deepak Lal, 2000. "Globalization, Imperialism and Regulation," UCLA Economics Working Papers 810, UCLA Department of Economics.
- Alan Martina, 2007. "A Class of Poverty Traps: A Theory and Empirical Tests," ANU Working Papers in Economics and Econometrics 2007-482, Australian National University, College of Business and Economics, School of Economics.
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