Economic Warfare: Lessons from Two World Wars

Mark Harrison ()

No 18439, CEPR Discussion Papers from Centre for Economic Policy Research

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.

JEL-codes: H56 N44 (search for similar items in EconPapers)
Date: 2023-09
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Working Paper: Economic Warfare: Lessons from Two World Wars (2023)
Working Paper: Economic Warfare: Lessons from Two World Wars (2023)
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