week 8 sanctions / economy Flashcards
sanctions are an ineffective tool of statecraft. do you agree?
- capital peace theory
- complex interdependence theory
- chokepoints can limit the impact of sanctions
- nationalism
- morally impermissible
- elites shifting the burden on civilians
capital peace theory
the moment you have trade you have peace
capitalism leads to peace not democracy
JCPOA
Joint Comprehensive Plan of Action
SDN
Specially Designed Nations
GAO
Government Accountability Office.
IRGC
Islamic Revolutionary Guard Corps
WMD
Weapons of Mass Destruction
what is economic sanctions?
can be trade, finance, aid
what are different types of sanctions?
- economic sanctions
- travel sanctions
- sports sanctions
- cultural sanctions
what are the different scopes?
comprehensive
sectoral
targeted
secondary
who are the key actors?
- sender
- target
- third parties
“a country menaced with an interruption of trade with a given country has the alternative of diverting trade to a third country”
hirschman
economic sanctions
the point of these sanctions is to influence behavior ex. the US sanctions on china because of their human rights violations of the massacres
counterstrategy
complex interdependence
As countries rely on one another, they become more sensitive to each other’s needs and vulnerabilities, fostering cooperative relationships. For instance, disruptions in the supply of essential materials in one country can have ripple effects throughout trading partners, highlighting the interconnectedness of global economies.
what is the main argument of commercial liberalism?
- the moment you have trade you have peace
- everybody wins because countries want to accumulate benefits
they realize that fighting against each other goes against state interest
“economic freedom is about 50 times more effective than democracy in reducing violent conflict”
Gartzke
the invisible hand - by Adam Smith
individuals pursuing their own interests can lead to positive economic outcomes for society as a whole. In the context of international trade, as countries seek to improve their economic conditions, they engage in trade without the need for direct state intervention.
divison of labor - David Hume
Specialization allows countries to focus on what they do best, leading to increased efficiency. fx nation that are not advanced does not have technology which is why they should not produce light industries ex. Vietnam is better at producing light
comparative advantage - David Ricardo
the ability to produce a good at a lower opportunity cost than another country.
technological advancement
Trade fosters innovation and technological progress by exposing firms to international competition. This “creative destruction” process ensures that less efficient businesses exit the market, making way for more innovative and adaptable firms to thrive. In a capitalist system, this cycle of growth and decline drives continuous improvement.
hegemonic stability theory
- global stability and cooperation are often maintained by dominant power
- the rise and fall of hegemonic powers can sinifcicantly influence trade relationships
characteristics of complex interdependence
- states that are connected by multiple channels
- absence of hierarchy among issues
what does liberalists say about security?
it does not have to be security all the time. there are more important thins such as human rights and economic development - (Keohane and Nye )
political processes of complex interdependence?
- linkage strategies
- agenda formation and control
- agenda changes
linkage strategies
- a form of coercion ex. when the US gave grain to the USSR during the cold war in exchange for political leverage
- it is an attempt to the actor to make changes
- the alternative would otherwise be conflict
agenda formation and control
Agenda formation and control refer to how certain topics are prioritized in international discourse, affecting the behavior and responses of states
what does mercantilism say?
- if your own nation has to be wealthy, it could only be so by making others poor
- this theory goes against commercial liberalism
economic nationalism
the idea that a country should strive to produce the essential goods and services it needs, minimizing dependence on international trade.
Sanctions often include restrictions on trade that compel nations to adapt and rely on domestic production
infant industry protectionism
A country might restrict imports of certain goods to allow local manufacturers time to develop their capabilities and market presence.
marxisim on sanction
peace can only happen when the working class is taking over and free trade is an illusion
economic statecraft
the use of economic means by one state to influence another
weaponized interdependence
the misuse of interdependence, countries being aware that they are rendering other countries and being happy to do so
chokepoint
a cut off in international trade, think about it as a bottle neck - if you make an obstacle nothing floats - it is seen within the networks so for A to get to Q it has to go through B and D first and D might create a chokepoint to gain power
trade wars
state threatens to inflict economic harm - ex. trump inflicting harm on chinese companies to make the the trade less advantageous to China and more advantageous to The US because he argued that they where eating Washingtons lunch.
economic warfare
measures that seeks to weaken an adversaryøs aggregate economic potential in order to weaken its military capabilities
BDS
Boykott Divestment Sanctions
comprehensive scope
seeks to prevent virtually all trade to economic welfare and is a scope where everybody suffers with the aim of maximum pressure
sectoral scope
These sanctions focus on specific sectors of a target’s economy, such as finance, energy, or military goods.
targeted scope
“smart sanctions,” these are designed to focus on specific individuals, organizations, or entities rather than the general population. Targeted sanctions might include asset freezes, travel bans, or restrictions on specific individuals associated with objectionable actions.
secondary scope
impose restrictions on third parties that engage in business or trade with a sanctioned country or individual.
sanction busters
often helping the sanctioned state to maintain access to markets, trade, or essential resources. ex Türkiye when the US sanctioned Iran was a sanction buster
false positive
indicate an incorrect attribution of success to sanctions when that success is actually due to other factors.
false negative
indicate a failure to recognize the effectiveness of sanctions due to flaws in policy implementation or design
