The End of War: How a Robust Marketplace and Liberal Hegemony Are Leading to Perpetual World Peace

Abstract Permanent world peace is beginning to emerge. States with developed market-oriented economies have foremost interests in the principle of self-determination of all states as the foundation for a robust global marketplace. War among these states, even making preparations for war, is not possible, because they are in a natural alliance to preserve and protect the global order. Among other states, weaker powers, fearing those that are stronger, tend to bandwagon with the relatively benign market-oriented powers. The result is a powerful liberal global hierarchy that is unwittingly, but systematically, buttressing states' embrace of market norms and values, moving the world toward perpetual peace. Analysis of voting preferences of members of the United Nations General Assembly from 1946 to 2010 corroborates the influence of the liberal global hierarchy: states with weak internal markets tend to disagree with the foreign policy preferences of the largest market power (i.e., the United States), but more so if they have stronger rather than weaker military and economic capabilities. Market-oriented states, in contrast, align with the market leader regardless of their capabilities. Barring some dark force that brings about the collapse of the global economy (such as climate change), the world is now in the endgame of a five-century-long trajectory toward permanent peace and prosperity.