The welfare cost of lawlessness: Evidence from Somali piracy

Tim Besley, Thiemo Fetzer, Hannes Felix Mueller, 28 February 2013

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Max Weber defined a functioning state as “a human community that (successfully) claims a monopoly of the legitimate use of physical force within a given territory”. This does not apply to Somalia.

Topics: Development, Institutions and economics, International trade
Tags: failed states, piracy, Somalia

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