This article examines the conditions under which conquest is likely to reap
significant economic rewards. Scholars have largely focused on how the lev
el of popular resistance within the vanquished country influences the benef
its of conquest. What needs to tx: scrutinized in greater depth is how post
-World War II economic transformations within the most advanced countries a
ffect the benefits of conquest. This article focuses on examining one parti
cular economic change that has been neglected for the most part in the secu
rity and peace literature: the globalization of production. The article del
ineates four recent changes in the structure of global production and outli
nes how each of these economic transformations alters the benefits of conqu
est. The collective impact of the arguments strongly indicates that the ben
efits of conquest have declined significantly in recent years within the mo
st economically advanced countries.