Considered here is an arms race in which weapons production exhibits increasing returns to scale technology that stems from the increasing importance of information, electronics, computers, software, etc. in modern weapons systems. Just as in general equilibrium theory, increasing returns to...

This article presents some pacifist ideas developed in various economists' works since the origins of economic thought. The Classicals considered international peace to be a normal result (as well as a necessary condition) of economic development and human progress. Such a conception is also...