Embargoes: An Effective Political Weapon? (John Quiggin, The National Interest)

16.03.2014 09:08

At the beginning of the Civil War, the leaders of the South were, as is normal at the outset of war, confident that their superior military prowess would yield a rapid victory. But the Confederates had another reason for confidence: their possession of a near-monopoly in the market for the most important commodity of the day: cotton.

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