International Trade as a Peace Project

34 Pages Posted: 29 Aug 2022 Last revised: 21 Nov 2022

See all articles by Christopher J. Coyne

Christopher J. Coyne

George Mason University - Department of Economics; George Mason University - Mercatus Center

Abigail R Hall

University of Tampa

Nathaniel Smith

Sweet Briar College

Date Written: August 21, 2022

Abstract

This paper explores the importance of international trade in generating both immediate economic benefits and broader benefits of peace. We discuss the theoretical foundations of international trade as a source of economic and non-economic benefits that foster peace. Next, we review the empirical evidence in four categories—(1) evidence in support of the capitalist peace, (2) evidence of the interaction between capitalism and democracy, (3) evidence against the capitalist peace, and (4) evidence on the composition of trade and peace. We then consider three extensions and challenges to international trade and offer responses—(1) the association of capitalism with imperialism, (2) the argument for war by economic means as a source of peace, and (3) the view that international trade requires nation-state liberal hegemony. We conclude with a discussion of how international trade should be viewed as part of an ongoing peace project whereby people engage in an ongoing process of discovering different ways of navigating conflict to live with others.

Keywords: international trade, capitalist peace, democratic peace, imperialism

JEL Classification: F13, F14, P10, P45

Suggested Citation

Coyne, Christopher J. and Hall, Abigail R and Smith, Nathaniel, International Trade as a Peace Project (August 21, 2022). GMU Working Paper in Economics No. 22-40, Available at SSRN: https://ssrn.com/abstract=4196139 or http://dx.doi.org/10.2139/ssrn.4196139

Christopher J. Coyne (Contact Author)

George Mason University - Department of Economics ( email )

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Fairfax, VA 22030
United States

HOME PAGE: http://www.ccoyne.com/

George Mason University - Mercatus Center ( email )

3434 Washington Blvd., 4th Floor
Arlington, VA 22201
United States

HOME PAGE: http://ppe.mercatus.org/scholars/christopher-coyne

Abigail R Hall

University of Tampa ( email )

401 W Kennedy Blvd Box O
Tampa, FL 33606

Nathaniel Smith

Sweet Briar College ( email )

United States

HOME PAGE: http://nathanielwsmith.com

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