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Is "Economic Power" a Useful and Operational Concept?

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  • Cooper, Richard

Abstract

With the end of the Cold War, and until 9/11/01, many academic and journalistic pundits averred that military power was no longer of great importance, that the future lay with economic power. The claim was made that the United States was an "economic superpower," and therefore would continue to be the world's dominant power in any case. Does this term mean anything other than "biggest national economy?" If so, what exactly does it mean? This paper will discuss the concept of economic power, and then apply the concept to the proposal of John Mearsheimer, the R. Wendell Harrison Distinguished Service Professor of Political Science at the University of Chicago, that on strategic (balance of power) grounds the United States should take steps to slow down the economic growth of China.

Suggested Citation

  • Cooper, Richard, 2004. "Is "Economic Power" a Useful and Operational Concept?," Scholarly Articles 3677050, Harvard University Department of Economics.
    • Handle: RePEc:hrv:faseco:3677050
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    References listed on IDEAS

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    1. Gary Clyde Hufbauer & Jeffrey J. Schott & Kimberly Ann Elliott, 2009. "Economic Sanctions Reconsidered, 3rd Edition (paper)," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 4129, October.
    2. Gary Clyde Hufbauer & Jeffrey J. Schott & Kimberly Ann Elliott, 1990. "Economic Sanctions Reconsidered: 2nd Edition," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 82, January.
    3. Edward M. Graham & Paul Krugman, 1995. "Foreign Direct Investment in the United States, 3rd Edition," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 52, October.
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    Cited by:

    1. Bjelic, Predrag, 2005. "Trade policy of the European Union as a factor of regional trade in Southeast Europe," LSE Research Online Documents on Economics 23374, London School of Economics and Political Science, LSE Library.

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