Wang, Yi-Jiang - In: Journal of government and economics : JGE 8 (2022), pp. 1-14
A Hobbesian society is modeled to study how the market emerges from violence. From a Cournot military contest for wealth, primitive markets emerge when Rousseau's Garden of Eden or an arms race is the equilibrium rather than war. Politically-dominated (e.g., socialist) or Smithian markets with a...