Venezuelan Sanctions are a Bad Idea

by | Aug 7, 2019

The Trump administration recently enacted sanctions against Venezuela, citing human rights abuses among its justifications. But if violations of human rights are a legitimate concern for the administration, then pursuing economic sanctions is bad policy.

Research shows that such sanctions not only fail to achieve their stated goals seventy to eighty percent of the time, but also result in greater poverty and widespread malnutrition and starvation.

If preserving and improving the lives of the oppressed is an outcome for which we’re shooting, well, this ain’t it, chief. Instead, we should start developing solid trade relationships with Venezuela. After all, aside from enriching both countries, more economic interaction leads to fewer wars.

(H/T Jason Ditz)

About Matt Knight

Matt Knight is an economics major at Utah State University and blogs at Ignore This.

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