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The right to bear arms, private property, and economic growth

Author

Listed:
  • Qixin Zhan

    (China Economics and Management Academy, Central University of Finance and Economics)

  • Heng-fu Zou

    (The World Bank
    Institute for Advanced Study, Wuhan University
    Institute for Advanced Study, Shenzhen University)

Abstract

This paper provides an examination of the crucial role played by the right to keep and bear arms in protecting individuals’ life, liberty, and property. Through our analysis, we demonstrate that the accumulation of firearms, serving as a means of safeguarding life, liberty, and property rights, leads to advancements in physical capital accumulation, output production, and overall welfare. Utilizing a robust mathematical model, we offer theoretical support for the natural right to bear arms, a principle deeply ingrained in ancient wisdom and enshrined in modern constitutional frameworks, notably exemplified by the Second and Fourth Amendments of the US Constitution.

Suggested Citation

  • Qixin Zhan & Heng-fu Zou, 2024. "The right to bear arms, private property, and economic growth," CEMA Working Papers 626, China Economics and Management Academy, Central University of Finance and Economics.
    • Handle: RePEc:cuf:wpaper:626
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    File URL: https://down.aefweb.net/WorkingPapers/w626.pdf
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    References listed on IDEAS

    as
    1. Hayek, F. A., 2022. "Law, Legislation, and Liberty, Volume 19," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226781815 edited by Shearmur, Jeremy, September.
    2. Friedman, Milton & Appelbaum, Binyamin, 2020. "Capitalism and Freedom," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226734798, September.
    3. Barzel,Yoram & Allen,Douglas W., 2023. "Economic Analysis of Property Rights," Cambridge Books, Cambridge University Press, number 9781009374729.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Arms spending; Private property; Capital accumulation; Economic growth;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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