Buyer Beware: How Market Structure Affects Contracting and Company Performance in the Private Military Industry

Private military and security companies are integral components of the defense and intelligence operations of some of the world's most powerful states. Despite the increasingly pivotal role of contractors, analysts have yet to develop theories explaining when governments should outsource national security responsibilities or what conditions cause private defense markets to function efficiently. This inquiry addresses this gap in the literature by demonstrating that varying market structures—that is, the quantity of firms providing similar services and the number and purchasing power of those buying these services—have significant effects on costs, oversight, and company performance in the private defense industry. A principal–agent framework is developed to explain variation in the performance of firms in different markets across the industry. Evaluation of three private defense markets yields the surprising conclusion that monopsony, rather than a competitive market, is the ideal structure for governments outsourcing aspects of national defense.     

Objectivity,Interpretation, and Rights: A Critique of Dworkin

Law and Philosophy -     

Socialist Market Economy and Rational Macro Controls

正Much has been written about China's socialist market economy since October 1992, when the concept was formally endorsed. Many have debated its true nature. Is it really a socialist or a market economy? Is it an unwieldy synthesis of both, or has it through time matured into a manageable system for continued national development?     

B3W: America's 'Make The World Great Again' Fantasy

正The recent Group of Seven(G7) leaders' meeting in the UK announced support for a new U.S.-led effort called Build Back Better World(B3W), a global infrastructure plan to challenge China's Belt and Road Initiative. While details remain vague and support within the G7 tepid at best, this announcement has caused a big splash in global discussions, particularly its offer "to help narrow the $40+ trillion infrastructure need in the developing world."     

Washington's ‘Great Zero-Sum Game’

正It's easy to become distracted by the many moves made by the U.S. against China. To be sure, there's always a difference between rhetoric and reality, between ambition and actuality, and this has become ever clearer during the Donald Trump and now Joe Biden administrations.     

An Imperial Presidency?

Girging him with“incitement of insurction”and describing him as a“clear id present danger”to the nation,the U.S.House of Representatives impeached President Donald Trump for a historic second time.Ten Republican members broke ranks and joined Democrats.Coming in the waning days of Trump's administration,the date of a Senate trial is still uncertain,but there are indications that it might proceed months later after the business of helping a new administration take root has been completed,and long alter he has left office.     

A Patient Approach

Two speeches on foreign policy are being parsed for their implications for China-U.S.relations going forward.The first was delivered to the National Committee on United States-China Relations by Yang Jiechi.Known as China's top diplomat,Yang spoke directly about the past four years and what will be necessary for relations to improve as the Joe Biden administration finds its footing.The second speech was by U.S.President Biden,delivered at the State Department,where he emphasized in contrast with his predecessor that U.S."diplomacy is back,"and the U.S.will rekindle ties with allies but will also seek cooperation with adversaries and competitors.