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Economic Warfare: Lessons from Two World Wars

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  • Harrison, Mark

Abstract

Economic warfare was a product of the total wars of the twentieth century. Four lessons are discussed: (1) Modern economies are resilient under attack. (2) The action of economic warfare is slow. (3) Economic warfare is powerful—eventually. (4) The threat of economic warfare is also powerful—although not always as hoped. To conclude, economic warfare belongs to wars of attrition. In such wars, economic and military measures are complements, not substitutes.

Suggested Citation

  • Harrison, Mark, 2023. "Economic Warfare: Lessons from Two World Wars," CEPR Discussion Papers 18439, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:18439
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    JEL classification:

    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-

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