Description
According to Baldwin, the utility of the economic techniques of statecraft have been underestimated by most analysts since 1945, and the study of economic instruments of foreign policy has been neglected. He develops an analytical frame-work based on social power and uses it to challenge the conventional view that economic tools of foreign policy do not work. He analyzes the role of economic statecraft in bargaining, national power, foreign trade, and foreign aid, as well as its morality, legality, and role in the history of international thought. He concludes that though sanctions and rewards can have conspicuous shortcomings, they are often better than the military alternative.
