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Small groups of investors and their private armies: the ascendance of private equity firms and their control over private military companies as further evidence of epochal change theory

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  • Bryan T. Stinchfield

Abstract

Compelling trends in international affairs, such as the rise of private military companies (PMCs) and the increasing fragility of many nation-states, have caused some observers to question whether the state-centric, Westphalian world-order will exist in perpetuity. In this light, epochal change theory posits that world-orders have constantly changed and we are now witnessing a transition to a new one. In this paper, I discuss how small groups of private equity investors now control impressive war-fighting capabilities, and that this acquisition of PMCs by private equity firms is further evidence of epochal change theory.

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  • Bryan T. Stinchfield, 2020. "Small groups of investors and their private armies: the ascendance of private equity firms and their control over private military companies as further evidence of epochal change theory," Small Wars and Insurgencies, Taylor & Francis Journals, vol. 31(1), pages 106-130, January.
    • Handle: RePEc:taf:fswixx:v:31:y:2020:i:1:p:106-130
    DOI: 10.1080/09592318.2020.1672967
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