Preconditions for the Wealth of Nations over Time: A Note

Oriol Sabaté and Eduardo Sanz-Arcega
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Oriol Sabaté: Department of Political Science, Lund University, Sweden
Eduardo Sanz-Arcega: Department of Economic Structure, Economic History and Public Economics, University of Zaragoza, Spain

International Center for Public Policy Working Paper Series, at AYSPS, GSU from International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University

Abstract: Military might and political elites’ commercial mindset are two important preconditions that explain nations’ economic income differences. The combination of elites’ economic risk appetite and its bargain power at the national and international arenas sustained by its own military might lead to the array of economic outcomes achieved by nations over time. To the best of our knowledge, the proposed argument fits historical evidence but has not been properly developed by the previous literature.

Pages: 14 pages
Date: 2020-07
New Economics Papers: this item is included in nep-his
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