I have been thinking about Ronald Coase's theory of the firm & what is happening with the U.S. state. The U.S. state seems to be withering away, in the sense that it is evolving into a series of contracts -- the traditional military is giving way to Halliburton and Blackwater. Lockheed is managing welfare ....
How does this system square with the conception of the state as having a monopoly on force? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
