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A New Economic Analysis of the American Revolution

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Author Info

  • Paul Hallwood

    (University of Connecticut)

  • Ambyre Ponivas

    (University of Connecticut)

Abstract

We offer an analysis of the American Revolution in which actors are modeled as choosing the sovereign organization that maximizes their net expected benefits. Benefits of secession derive from satisfaction of greed and settlement of grievance. Costs derive from the cost of civil war and lost benefit of Empire membership. When expected net benefits are positive for both secessionists and the Empire civil war ensues, otherwise it is settled or never begins in the first place. The novelty of our discussion is to show how diverse economic and non-economic factors (such as pamphleteering by Thomas Paine and the morale of the Revolutionary forces) can be integrated into a single economic model.

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File URL: http://www.econ.uconn.edu/working/2009-08.pdf
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Bibliographic Info

Paper provided by University of Connecticut, Department of Economics in its series Working papers with number 2009-08.

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Length: 37 pages
Date of creation: Feb 2009
Date of revision:
Handle: RePEc:uct:uconnp:2009-08

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Postal: University of Connecticut 341 Mansfield Road, Unit 1063 Storrs, CT 06269-1063
Phone: (860) 486-4889
Fax: (860) 486-4463
Web page: http://www.econ.uconn.edu/
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Related research

Keywords: American Revolution; autonomous regions; causes of war; civil war; collapse of empire; empire; international borders; secession; self determination; theory of history; transaction costs; war of secession;

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  1. > Schools of Economic Thought, Epistemology of Economics > Heterodox Approaches > Thermoeconomics > The economy system and entropy minimization

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