Tension has been escalating between Britain and Argentina in the run-up to the 30th anniversary of the Falklands War, and it has been taken up a notch with the announcement that Prince William is preparing to embark on a six-week military mission with the Royal Air Force in the Falkland Islands.

Should the disputed islands be returned to Argentina? In his latest article for Globe Asia, titled The Falklands and other dangerous disputed territories – a market solution, Steve Hanke, a professor of applied economics at The Johns Hopkins University, writes that a market solution could help the two countries avoid another war. He suggests that Falklanders vote on whether they prefer to remain part of the United Kingdom or agree to an Argentinean take-over. Prior to the referendum, Argentina would deposit a cash incentive to be held in escrow in Swiss bank accounts for every man, woman and child who had proven their Falklands residence. If the vote went in Argentina’s favor (a supermajority of 80 percent voting “yes”), then the funds in escrow would be transferred to each individual Falklander and Argentina’s unambiguous sovereignty over the Falklands would be established.

“A transparent market solution for the Falklands and other disputed territories would be a cost-effective way to unambiguously establish sovereignty – a way that avoids blundering into unwanted wars and spilling blood, sweat and tears,” Hanke says.

Hanke is an excellent source for matters of international currencies. To speak with him, members of the media can contact him directly at hanke@jhu.edu or 410-516-7183 office, or contact Johns Hopkins media relations representative Amy Lunday at acl@jhu.edu, 443-287-9960 office or 410-804-2551 cell.

Source: Johns Hopkins