IDEAS home Printed from https://ideas.repec.org/a/bla/ecaffa/v27y2007i3p65-70.html
   My bibliography  Save this article

Economic Sanctions: Failed Foreign Policy Tool And A Cost To American Business

Author

Listed:
  • Charles A. Rarick

Abstract

In recent years the US government has increased its use of economic sanctions in order to punish countries, organisations and individuals. This form of foreign policy has become an increasing burden on US business and adversely affects US competitiveness and perceived reliability in the global marketplace. In addition, economic sanctions are generally ineffective in producing the desired changes and often harm the people they were intended to help. This paper argues that economic sanctions are an increasing menace to US business, represent an ineffective tool of foreign policy, and do not meet generally accepted ethical standards.

Suggested Citation

  • Charles A. Rarick, 2007. "Economic Sanctions: Failed Foreign Policy Tool And A Cost To American Business," Economic Affairs, Wiley Blackwell, vol. 27(3), pages 65-70, September.
    • Handle: RePEc:bla:ecaffa:v:27:y:2007:i:3:p:65-70
    DOI: 10.1111/j.1468-0270.2007.00757.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1468-0270.2007.00757.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1468-0270.2007.00757.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Kaemfer, William H & Lowenberg, Anton D, 1988. "The Theory of International Economic Sanctions: A Public Choice Approach," American Economic Review, American Economic Association, vol. 78(4), pages 786-793, September.
    2. ., 2000. "Networks in International Business," Chapters, in: Economics of International Business, chapter 9, Edward Elgar Publishing.
    3. Robert Whaples & Jac C. Heckelman, 2005. "Public Choice Economics: Where is there Consensus?," The American Economist, Sage Publications, vol. 49(1), pages 66-78, March.
    4. Chaim Fershtman & Neil Gandal, 1998. "The Effect of the Arab Boycott on Israel: The Automobile Market," RAND Journal of Economics, The RAND Corporation, vol. 29(1), pages 193-214, Spring.
    5. ., 2000. "Real Options in International Business," Chapters, in: Economics of International Business, chapter 7, Edward Elgar Publishing.
    6. Gibbons, E. & Garfield, R., 1999. "The impact of economic sanctions on health and human rights in Haiti, 1991-1994," American Journal of Public Health, American Public Health Association, vol. 89(10), pages 1499-1504.
    7. ., 2000. "Conclusion: Methodological Issues in International Business," Chapters, in: Economics of International Business, chapter 10, Edward Elgar Publishing.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mario Larch & Jeff Luckstead & Yoto V. Yotov, 2021. "Economic Sanctions and Agricultural Trade," CESifo Working Paper Series 9410, CESifo.
    2. Sofronis Clerides & Peter Davis & Antonis Michis, 2010. "The Impact of the Iraq War on US Consumer Goods Sales in Arab Countries," Working Paper series 25_10, Rimini Centre for Economic Analysis.
    3. Charles A. Rarick & Thaung Han, 2010. "Economic Sanctions Revisited: Additional Insights Into Why They Fail," Economic Affairs, Wiley Blackwell, vol. 30(2), pages 68-70, June.
    4. Sofronis Clerides & Peter Davis & Antonis Michis, 2015. "National Sentiment and Consumer Choice: The Iraq War and Sales of US Products in Arab Countries," Scandinavian Journal of Economics, Wiley Blackwell, vol. 117(3), pages 829-851, July.
    5. Charles A. Rarick & Martine Duchatelet, 2008. "An Ethical Assessment Of The Use Of Economic Sanctions As A Tool Of Foreign Policy," Economic Affairs, Wiley Blackwell, vol. 28(2), pages 48-52, June.
    6. Mario Larch & Jeff Luckstead & Yoto V. Yotov, 2021. "Economic Sanctions and Agricultural Trade," CESifo Working Paper Series 9410, CESifo.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Charles A. Rarick, 2006. "Destroying A Country In Order To Save It: The Folly Of Economic Sanctions Against Myanmar," Economic Affairs, Wiley Blackwell, vol. 26(2), pages 60-63, June.
    2. Bonnie C. Wintle & Belinda Cleeland, 2012. "Interpreting risk in international trade," Journal of Risk Research, Taylor & Francis Journals, vol. 15(3), pages 293-312, March.
    3. Pimsiri Chiwamit & Sven Modell & Chun Lei Yang, 2014. "The societal relevance of management accounting innovations: economic value added and institutional work in the fields of Chinese and Thai state-owned enterprises," Accounting and Business Research, Taylor & Francis Journals, vol. 44(2), pages 144-180, April.
    4. Jerg Gutmann & Matthias Neuenkirch & Florian Neumeier, 2021. "Sanctioned to Death? The Impact of Economic Sanctions on Life Expectancy and its Gender Gap," Journal of Development Studies, Taylor & Francis Journals, vol. 57(1), pages 139-162, January.
    5. Satomi Kimino & David S. Saal & Nigel Driffield, 2007. "Macro Determinants of FDI Inflows to Japan: An Analysis of Source Country Characteristics," The World Economy, Wiley Blackwell, vol. 30(3), pages 446-469, March.
    6. Susan Segal-Horn & Alison Dean, 2008. "The rise of super-elite law firms: towards global strategies," The Service Industries Journal, Taylor & Francis Journals, vol. 31(2), pages 195-213, November.
    7. Kristin Brandl & Izzet Darendeli & Ram Mudambi, 2019. "Foreign actors and intellectual property protection regulations in developing countries," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(5), pages 826-846, July.
    8. Riyad Neman Darwazeh & Mohammad Dabaghia, 2018. "Privatization Effect on Shareholder Value in the Jordanian State Owned Enterprises," International Journal of Economics and Financial Issues, Econjournals, vol. 8(2), pages 70-78.
    9. Oechslin, Manuel, 2014. "Targeting autocrats: Economic sanctions and regime change," European Journal of Political Economy, Elsevier, vol. 36(C), pages 24-40.
    10. Neuenkirch, Matthias & Neumeier, Florian, 2015. "The impact of UN and US economic sanctions on GDP growth," European Journal of Political Economy, Elsevier, vol. 40(PA), pages 110-125.
    11. Clemenson, Barbara & Sellers, R.D., 2013. "Hull House: An autopsy of not-for-profit financial accountability," Journal of Accounting Education, Elsevier, vol. 31(3), pages 252-293.
    12. Yang, Yi & Jia, Yuwei & Ling, Sun & Yao, Congxu, 2021. "Urban natural resource accounting based on the system of environmental economic accounting in Northwest China: A case study of Xi’an," Ecosystem Services, Elsevier, vol. 47(C).
    13. Afesorgbor, Sylvanus Kwaku, 2019. "The impact of economic sanctions on international trade: How do threatened sanctions compare with imposed sanctions?," European Journal of Political Economy, Elsevier, vol. 56(C), pages 11-26.
    14. Eduardo Francisco Silva & Darlisson Fernandes Bento & Anderson Conceição Mendes & Fábio Góis Mota & Luiz Carlos Silva Mota & Arthur Iven Tavares Fonseca & Rodolfo Maduro Almeida & Livaldo Oliveira San, 2020. "Environmental impacts of sand mining in the city of Santarém, Amazon region, Northern Brazil," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 22(1), pages 47-60, January.
    15. ME. Canes, 2000. "Country impacts of multilateral oil sanctions," Contemporary Economic Policy, Western Economic Association International, vol. 18(2), pages 135-144, April.
    16. Tovar, Jorge, 2012. "Consumers’ Welfare and Trade Liberalization: Evidence from the Car Industry in Colombia," World Development, Elsevier, vol. 40(4), pages 808-820.
    17. Itamar Milrad, 2018. "GREEN TAXATION: THE INFLUENCE AND DESIRABILITY OF THE FEEBATE SCHEME IN THE ISRAELI NEW CAR MARKETIn August 2009, a “green taxation”," Israel Economic Review, Bank of Israel, vol. 16(2), pages 1-36.
    18. Haqiqi , Iman & Bahalou Horeh , Marziyeh, 2013. "Macroeconomic Impacts of Export Barriers in a Dynamic CGE Model," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 8(3), pages 117-150, July.
    19. Joshi, Sumit & Mahmud, Ahmed Saber, 2018. "Unilateral and multilateral sanctions: A network approach," Journal of Economic Behavior & Organization, Elsevier, vol. 145(C), pages 52-65.
    20. Charles A. Rarick & Martine Duchatelet, 2008. "An Ethical Assessment Of The Use Of Economic Sanctions As A Tool Of Foreign Policy," Economic Affairs, Wiley Blackwell, vol. 28(2), pages 48-52, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ecaffa:v:27:y:2007:i:3:p:65-70. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0265-0665 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.