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Dec. 14th, 2021 06:19 amBrett Deveraux:
“In pre-industrial societies, returns to capital investment were very low. They could – and did – build roads and infrastructure, irrigation systems and the like, but the production multiplier for such investments was fairly low. For antiquity, the Roman Empire probably represents close to the best that could be achieved with such capital investments and one estimate, by Richard Saller, puts the total gains per capita at perhaps 25% over three centuries (a very rough estimate, but focus on the implied scale here; the real number could be 15% or 30%, but it absolutely isn’t 1000% or 100% or even probably 50%).
“But returns to violent land acquisition were very, very high. In those same three centuries, the Romans probably increased the productive capacity of their empire by conquest1,200% (note that’s a comma, not a dot!), going from an Italian empire of perhaps 5,000,000 to a Mediterranean empire in excess of 60,000,000 (and because productivity per capita was so relatively insensitive to infrastructure investments, we can on some level extrapolate production straight out of population here in a way that we couldn’t discussing the modern world). Consequently, the ‘returns to warfare’ – if you won – were much higher than returns to peace. The largest and most prosperous states tended to become the largest and most prosperous states through lots of warfare and they tended to stay that way through even more of it.”
Smacking primitivists upside the head with this.
“In pre-industrial societies, returns to capital investment were very low. They could – and did – build roads and infrastructure, irrigation systems and the like, but the production multiplier for such investments was fairly low. For antiquity, the Roman Empire probably represents close to the best that could be achieved with such capital investments and one estimate, by Richard Saller, puts the total gains per capita at perhaps 25% over three centuries (a very rough estimate, but focus on the implied scale here; the real number could be 15% or 30%, but it absolutely isn’t 1000% or 100% or even probably 50%).
“But returns to violent land acquisition were very, very high. In those same three centuries, the Romans probably increased the productive capacity of their empire by conquest1,200% (note that’s a comma, not a dot!), going from an Italian empire of perhaps 5,000,000 to a Mediterranean empire in excess of 60,000,000 (and because productivity per capita was so relatively insensitive to infrastructure investments, we can on some level extrapolate production straight out of population here in a way that we couldn’t discussing the modern world). Consequently, the ‘returns to warfare’ – if you won – were much higher than returns to peace. The largest and most prosperous states tended to become the largest and most prosperous states through lots of warfare and they tended to stay that way through even more of it.”
Smacking primitivists upside the head with this.
