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Article: U.S. Economic Sanctions: Lessons from the Iranian Experience.(Statistical Data Included)
- Article from:
- Business Economics
- Article date:
- July 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 The National Association for Business Economists. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE MOST VISIBLE SANCTIONS, THOSE ON TRADE, MAY NOT BE THE MOST IMPORTANT; AND IT IS NOT CLEAR THAT THE COST OF THE SANCTIONS ARE WARRANTED BY THEIR BENEFITS.
The United States has been the world's only major country to make frequent use of economic sanctions to change what it perceives as the objectionable policies of other countries. Although the global economic, financial, and military influence of the U.S. enables it to use sanctions as an instrument of foreign policy, the efficacy of sanctions is still in great doubt. Using Iran as an example, over a period of twenty years U.S. sanctions have had a significant economic cost for the U.S. as well as for Iran. ...