The Pros/Cons of Economic Sanctions Explained: Definition. Examples. Advantages and Disadvantages.

Unfortunately, we hear more and more rhetoric pertaining to economic sanctions, anything from sanctions on small but aggressive nations to potential sanctions on countries with economies large enough to potentially bring the entire interconnected financial system to its knees.


But what are economic sanctions anyway and why are countries tempted to resort to them?


In a nutshell, this is the question that will be explained/answered in one minute by taking things one step at a time: from the definition of economic sanctions to various advantages as well as pros/cons or if you will advantages/disadvantages.


As tempting as economic sanctions may be and as straightforward things oftentimes seem in theory, let's just say that as explained in this one minute video, the situation can get quite tricky once we start analyzing scenarios pertaining to some of the world's largest economies.'


Think of economic sanctions in such instances as you would about mutually assured destruction in military framework: mutually assured economic destruction, in other words :(