Abstract
While private trade often flourishes in parallel markets, contract enforcement through courts is unreliable, making investment in fixed assets prohibitively risky. Parallel political authorities - warlords, kingdoms, new religious groups - often make stronger claims on obedience than do nation-states and compete with nation-states as centers of revenue collection and regulation. Pervasive personal insecurity, a result of the spread of cheap and therefore "democratic' weaponry such as grenades, AK-47s, and land mines, undermines norms that support savings, maintenance, and investment. A possible strategy to improve government and build state capacity is discussed. -after Author
Original language | English (US) |
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Pages (from-to) | 129-153 |
Number of pages | 25 |
Journal | Daedalus |
Volume | 124 |
Issue number | 3 |
State | Published - 1995 |
All Science Journal Classification (ASJC) codes
- Arts and Humanities (miscellaneous)
- Social Sciences (miscellaneous)
- Political Science and International Relations
- History and Philosophy of Science