How Much Is Peace Actually Worth?

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An excerpt from my recent publication on Pacific Standard:

Economists are not new to the study of war. Many in the U.S. have argued that war is good for the economy, and those in Washington have seemed eager to believe them. Indeed, war is an ideal economics topic. It’s very expensive, and the numbers involved—money spent, weapons used, casualties—can be easily counted and crunched.

There is, however, a more challenging topic that has recently caught the eye of economists: peace.

In the last decade, researchers and economists from all over the world have made great gains in the nascent field of peace economics. They’re finding that violence and war are terrible for the economy, but also that we can use economics to prevent them.

. . .

Read more at www.PSMag.com.

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