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The first international history of the emergence of economic sanctions during the interwar period and the legacy of this development
 
A Foreign Affairs Best Book of 2022
 
“Valuable . . . offers many lessons for Western policy makers today.”—Paul Kennedy, Wall Street Journal
 
“The lessons are sobering.”—The Economist
 
Economic sanctions dominate the landscape of world politics today. First developed in the early twentieth century as a way of exploiting the flows of globalization to defend liberal internationalism, their appeal is that they function as an alternative to war. This view, however, ignores the dark paradox at their core: designed to prevent war, economic sanctions are modeled on devastating techniques of warfare.
 
Tracing the use of economic sanctions from the blockades of World War I to the policing of colonial empires and the interwar confrontation with fascism, Nicholas Mulder uses extensive archival research in a political, economic, legal, and military history that reveals how a coercive wartime tool was adopted as an instrument of peacekeeping by the League of Nations. This timely study casts an overdue light on why sanctions are widely considered a form of war, and why their unintended consequences are so tremendous.

The first international history of the emergence of economic sanctions during the interwar period and the legacy of this development

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Acknowledgments ix

List of Abbreviations xiii

Introduction: Something More Tremendous Than War 1

Part I The Origins of the Economic Weapon

1 The Machinery of Blockade, 1914-1917 27

2 The Birth of Sanctions from the Spirit of Blockade, 1917-1919 55

3 The Peacewar, 1919-1921 88

Part II The Legitimacy of the Economic Weapon

4 Calibrating the Economic Weapon, 1921-1924 111

5 Genevan World Police, 1924-1927 132

6 Sanctionism versus Neutrality, 1927-1931 156

Part III Economic Sanctions in the Interwar Crisis

7 Collective Security against Aggression, 1931-1935 179

8 The Greatest Experiment in Modern History, 1935-1936 202

9 Blockade-phobia, 1936-1939 226

10 The Positive Economic Weapon, 1939-1945 259

Conclusion: From Antidote to Alternative 291

Notes 299

Index 417