Leaders have used economic power as a tool of foreign policy since at least Pericles, whose trade sanctions against Megara helped to spark the Peloponnesian War. But as Câecile Fabre notes, philosophers have spent relatively little time thinking about the relevant ethics, especially compared with the time they have spent thinking about the ethics of war. Yet the moral questions raised by the use of economic statecraft are significant and complex. Fabre deploys a cosmopolitan theory of justice and the theory of justified harm to answer these questions, and concludes that political actors are morally entitled to resort to economic sanctions and conditional aid, but only as a means to protect human rights, and so long as the harms which they thereby inflictare not out of proportion to the goods they bring about. Moreover, they are morally entitled to resort to conditional lending and conditional debt forgiveness, not just with a view to protect human rights, but also, under certain conditions, to pursue other non-wrongful political goals.- Economic sanctions provide an alternative to waging war or a means to advance human rights. But are they morally justifiable? Philosophers have explored the ethics of war but rarely the ethics of carrots and sticks. Cécile Fabre offers a defense of economic statecraft, laying out a normative framework for this critical tool of diplomacy.