Changes

'''Economic sanctions''' are penalties applied by one or more countries against a target country, group, or individual to force a change in [[political]] or [[economic]] [[behavior]]. Under Chapter VII of the [[UN Charter]], the [[United Nations Security Council]] is the only legal body in the world authorized by [[international law]] to impose [[multilateral]] economic sanctions.<ref>[https://www.un.org/securitycouncil/sanctions/information UNITED NATIONS SECURITY COUNCIL]. Sanctions. un.org</ref> This stands in marked contrast to the [[neo-liberal]] [[Rules Based Order]] [[foreign policy]] of the [[United States]], in which the [[US State Dept]] threatens and [[blackmail]]s third party countries with economic sanctions who do not go along with [[US]] [[unilateral]] sanction regimes against its targeted adversaries.

'''Economic sanctions''' are penalties applied by one or more countries against a target country, group, or individual to force a change in [[political]] or [[economic]] [[behavior]]. Under Chapter VII of the [[UN Charter]], the [[United Nations Security Council]] is the only legal body in the world authorized by [[international law]] to impose [[multilateral]] economic sanctions.<ref>[https://www.un.org/securitycouncil/sanctions/information UNITED NATIONS SECURITY COUNCIL]. Sanctions. un.org</ref> This stands in marked contrast to the [[neo-liberal]] [[Rules Based Order]] [[foreign policy]] of the [[United States]], in which the [[US State Dept]] threatens and [[blackmail]]s third party countries with economic sanctions who do not go along with [[US]] [[unilateral]] sanction regimes against its targeted adversaries.

Economic sanctions stand in contrast to a [[free market]] where prices, production, and distribution of goods are determined by voluntary exchange between buyers and sellers with little or no [[government]] control. Sanctions rely on heavy [[state]] control, force, coercive [[trade]] blocks, embargoes, [[asset]] freezes, and bans on specific financial transactions.. Free markets rely on minimal intervention and open [[commerce]]. Sanctions aim to disrupt [[economic]] activity for [[political]] goals. Free markets aim to foster economic activity through natural [[supply and demand]]. Sanctions create artificial barriers and prohibitions. Free markets remove barriers to allow smooth exchange.

Economic sanctions stand in contrast to a [[free market]] where prices, production, and distribution of goods are determined by voluntary exchange between buyers and sellers with [[laissez faire|little or no government control]]. Sanctions rely on heavy [[state]] control, force, coercive [[trade]] blocks, embargoes, [[asset]] freezes, and bans on specific financial transactions.. Free markets rely on minimal intervention and open [[commerce]]. Sanctions aim to disrupt [[economic]] activity for [[political]] goals. Free markets aim to foster economic activity through natural [[supply and demand]]. Sanctions create artificial barriers and prohibitions. Free markets remove barriers to allow smooth exchange.

During the [[Cold War]], the "Free World" promoted a [[free market]] whereas the "[[Communist]] [[bloc]]" relied heavily on government control and sanctions to deny access to their markets and was a defining [[ideological]] division. In the post-Cold War era and [[Unipolar]] moment, the global situation has substantially reversed itself.

During the [[Cold War]], the "Free World" promoted a [[free market]] whereas the "[[Communist]] [[bloc]]" relied heavily on [[government]] control and sanctions to deny access to their markets and was a defining [[ideological]] division. In the post-Cold War era and [[Unipolar]] moment, the global situation has substantially reversed itself.

==References==

==References==