Mark Harrison, 14 November 2019

Economic warfare was widely used in WWII. When one country blockaded another’s supply of essential goods or bombed the industries producing them, why did the adversary’s economy fail to collapse? This column, part of the Vox debate on the economics of WWII, reviews Mançur Olson’s insights, which arose from the elementary economic concept of substitution. He concluded that there are no essential goods; there are only essential uses, which can generally be supplied in many ways.


Presentation and discussion of multidisciplinary research on the calculation and design of trade sanctions in WTO dispute settlement procedures. Features sessions on
Damage calculation in context: What is the goal of WTO remedies?
Lessons and questions from a legal perspective
Lessons and questions from an economic perspective
The politics of selecting and implementing trade sanctions – EC and Developing country perspectives
Improvements and new approaches from a legal , an institutional and an economic perspective
An alternative to trade flows: calculating expectation damages
Lessons from investor-state arbitration



CEPR Policy Research