Workshops or Barracks? Productive versus Enforcive Investment and Economic Performance
AbstractFor many countries in the world today and for much of history, investment in ordinary productive capital has been overshadowed by investment in enforcive capital: castles and siege machines; tanks, missiles and army barracks. We introduce a dynamic model which allows for investment in the latter form of capital, in which competing groups contest output through their holdings of enforcive capital. We show how investment in productive capital declines in relation to enforcive investment as the number of competing groups increases, and how this leads to a decline in steady-state output and welfare.
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Bibliographic InfoPaper provided by California Irvine - School of Social Sciences in its series Papers with number 97-98-20.
Length: 17 pages
Date of creation: 1998
Date of revision:
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Postal: UNIVERSITY OF CALIFORNIA IRVINE, SCHOOL OF SOCIAL SCIENCES, IRVINECALIFORNIA 91717 U.S.A.
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