Economic Sanctions and North Korea

The United States has enacted economic sanctions against North Korea since the early 1950s when North Korea attacked South Korea. Can North Korea be pressured into giving up its nuclear weapons? This article discusses the role of economic sanctions as a tool of international diplomacy with North Korea. Using concepts and tools taught in undergraduate economics classes, the article discusses the operation of sanctions and then it applies this analysis to the case of North Korea. The article examines the success that sanctions have achieved in bringing Kim Jong Un to the bargaining table and the difficulties that sanctions encounter in promoting a lasting resolution of the conflict between North Korea and the United States. The article is written for a broad audience of economics students. JEL Classifications: F0, F1