The Economic Weapon

Mulder, Nicholas

doi:10.12987/9780300262520

Cited by 24 publications

(4 citation statements)

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“…7 After just 18 months of sanctions, Japanese trade was reduced by 20-25 percent, and most historians agree that the progressive sanctions enacted against Japan ultimately led to it lashing out across the Pacific. 8 This can certainly be counted as a failure of economic sanctions if the goal were to check Japanese aggression or prevent escalation. Several decades of U.S. sanctions against Cuba, likely kept in place for the purpose of moral signaling, have failed to deliver freedom to the Cuban people and are estimated to have cost Cuba $130 billion and U.S. companies up to $1.2 billion per year.…”

Section: Substitute To Warmentioning

confidence: 99%

Substitute to War: Questioning the Efficacy of Sanctions on Russia

Lawniczak

2023

JAMS

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Western nations enacted harsh sanctions against Russia after its 2022 invasion of Ukraine. However, sanctions are rarely successful and policy makers should not expect sanctions to coerce Russia into a withdrawal. This article examines several concepts including the instrumental effectiveness of sanctions, the significance of state identity, the pitfall of mirror imaging, and aspects of prospect theory as they relate to the effectiveness of sanctions. Additionally, the weakness of sanctions used for moral signaling and the notion of sanctions as an act of war are considered. Recommendations are offered should policy makers continue to view economic sanctions as an attractive policy choice.

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Section: Substitute To Warmentioning

confidence: 99%

Substitute to War: Questioning the Efficacy of Sanctions on Russia

Lawniczak

2023

JAMS

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“…Among the indirect consequences are the economic sanctions introduced by the international community towards the Russian Federation, the aggressor country. The sanctions aim to shorten the duration of the war, and even though the scope and reach of them is unprecedented since World War II, it is unclear if they will succeed to bring the conflicting parties to the negotiation table (Mulder, 2022). Sanctions have some flaws: first, the time lag between measures and visible impact on the Russian economy; second, the fact that embargos are not being enforced by over 100 countries representing 40% of world GDP; and third, the retaliation from Russia by threatening the supply of gas and oil to Europe.…”

Section: Economic Effects Of the War In Ukraine On The Global Trade O...mentioning

confidence: 99%

The War in Ukraine and Its Impact on Global Agricultural Trade

Mykhailova,

Yatsenko,

Zavadska

et al. 2023

Die Bodenkultur: Journal of Land Management, Food and Environment

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Summary The Russian invasion of Ukraine represents an unforeseen and significant market disruption for global trade with wide-ranging effects on global trade, particularly on the economies of the major import countries of Ukrainian agricultural commodities. The general impact and consequences of the war on the global economy are described, and key components of the market disruptions are identified and put into a historical and geographical context. The degree of interconnectedness between the war in Ukraine and world trade and global gross domestic product (GDP) indices is highlighted. Changes in production and export volumes of the main Ukrainian agricultural commodities and their impact on major import countries are described. Actual and future measures to stabilise and soften the volatility of affected agricultural markets are presented.

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“…1 And as a result, sanctions have a much greater global economic effect than before. Their magnitude should prompt a reconsideration of sanctions as a powerful policy tool with serious global economic consequences [2].…”

Section: Introductionmentioning

confidence: 99%

“…In the interests of ensuring sustainable development, achieving the well-being of countries and peoples of the world, and the stability of the world economy, a number of experts call for concerted action to counter the consequences of sanctions against Russia adjusting the policy of sanctions, directing long-term investments in the infrastructure of developing economies, avoiding a sharp tightening of monetary policy to prevent capital flight from emerging markets [2].…”

Section: Introductionmentioning

confidence: 99%

Polycentrism in International Relations and Globalization Processes

Perskaya¹

2023

Capitalism - Theories and Empirics in a New Dawn [Working Title]

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The development of the world economy in modern conditions is being transformed under the influence of a number of factors that are not only man-made but also due to the imperfection of the system of economic relations that have developed as a result of the absolutized denial of state regulation and attempts to replace it with supranational rules. The basic determinants were the recommendations of the Washington Consensus (1992), which were aimed at an attempt to ensure an accelerated transition to the market rails of the states of the transformational economy after the collapse of the USSR, and they extended to all developing economies. This led to the formation of the world capitalist economic system in the form of a pyramid. The economic globalization of the world economy is based on the internationalization of reproduction value chains. The main drivers of world globalization have become TNCs or MNEs, which have launched active activities in developing countries, de facto ignoring national legal norms, and pursuing solely the goal of making a profit. As a result, the world economy has received by now the highest degree of disproportionality in the incomes of the population in both developed and developing countries; population aging in developed economies, deindustrialization of developed economies, lack of social mobility for young people, climate change in African countries and the weakening of internal incentives for the development of national economies, as well as local wars, have led to an influx of nonregulated migration from Africa, which, for the most part, does not want to accept the rules of public life in the developed countries. The pandemic that disrupted the GVC contributed in no small part to the factor contributing to the transformation of the global economy, and the introduction of unilateral and large-scale sanctions, including secondary ones—to an acceleration of the transition to polycentrism. Polycentrism is based on ensuring the full-fledged sovereignty of the state, the fulfillment of its international obligations, noninterference in the internal affairs of foreign states, and the formation of more equal conditions for international cooperation. The marginal prices for Russian oil or natural gas trade was an indicator of an attempt to introduce a command-administrative model into world trade under capitalism, thereby undermining its basic foundation—competition. Capitalism in the twenty-first century should also be based on private property and the inviolability of its legal basis, the inviolability of private property, the development of fair competition, including at the interstate level, on the basis of reaching a consensus of interests, on the need to promote the alignment of development levels in the world community, stimulating and supporting entrepreneurship in developing countries, including helping to implement the principles of responsible business conduct, but not imposing their social-mental or spiritual values on them as the basis of the socioeconomic formation of social development. It is polycentrism in international relations that makes it possible, while preserving the foundations of the capitalist economic model, to ensure the progressive development of national economies that use their competitive advantages on a global scale.

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The Economic Weapon

Cited by 24 publications

References 0 publications

Substitute to War: Questioning the Efficacy of Sanctions on Russia

Substitute to War: Questioning the Efficacy of Sanctions on Russia

The War in Ukraine and Its Impact on Global Agricultural Trade

Polycentrism in International Relations and Globalization Processes

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