Confused by the threat to impose sanctions on North Korea? Wonder why the shrewd (or mad) father and son who rule Pyongyang would scrap their nuclear- weapons program in the face of measures that have had little effect on less menacing dictators? Join the club.
Sanctions are a fashion, rising or falling like hemlines, depending on who's running things in Washington. Bill Clinton's reflexive faith in their efficacy is hardly surprising, since he is the No. 1 proponent of the post-cold war's leading fallacy: economic might counts far more than military clout. The quintessential domestic President, Clinton sees everyone as he...
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