Economic Security

Economic security is a multidimensional concept that has gained increasing importance in modern international relations and national security frameworks. In its broadest definition, economic security refers to the protection of a state’s, society’s, or individuals’ economic values, interests, and living conditions from external or internal threats. This form of security addresses both individual welfare levels and the sustainability of national economic structures, and it maintains close reciprocal interactions with other security domains.

Historical Background and Development Process

During the Cold War, national security was generally assessed within a framework focused primarily on military threats. However, after the Cold War, this understanding evolved, the definition of security expanded, and economic factors became integral components of national security strategies. The acceleration of globalization, the rise of mutual economic dependencies, and the ability to use economic tools to achieve political objectives have established economic security as a central element of national security.

Economic Security at Individual and National Levels

Economic security differs at the individual and national levels. At the individual level, it encompasses elements such as income security, access to basic needs (food, shelter, health care, education, etc.), job security, and the sustainability of living standards. At the national level, economic security involves addressing threats to a country’s economic system, preserving economic independence, and ensuring the continuity of economic growth capacity.

Threats and Securitization

The discourse on economic security includes a wide range of threat factors distinct from classical military threats, such as financial crises, energy supply disruptions, external economic dependencies, cyberattacks, food security issues, global economic fluctuations, and the dominant influence of multinational corporations. These threats sometimes enter the policy agenda through a process of “securitization,” whereby exceptional measures are legitimized as alternatives to ordinary political tools.

Elements of Economic Security

The following key elements are central to the assessment of economic security:

1. Energy Security: Uninterrupted, affordable, and sustainable access to energy resources is critical for the continuity of economic activities.
2. Industrial and Production Capacity: National production capacity, employment, export potential, and technological level are fundamental components of economic security.
3. Financial Stability: Macroeconomic indicators such as exchange rates, interest rates, debt levels, and budget balances directly affect economic security.
4. Human Capital: An educated and healthy workforce plays a decisive role in sustaining economic competitiveness.
5. External Economic Relations: International trade, investment relationships, economic sanctions, and mutual dependencies can directly influence economic security.

Institutional Approaches and Strategic Planning

As exemplified by the United States, the view that economic security is an inseparable component of national security is gaining widespread acceptance. However, existing public administration systems often fail to address this domain strategically, typically evaluating it in a fragmented and uncoordinated manner. A strategic approach to economic security requires interdisciplinary coordination in public policy, the establishment of long-term objectives, and mandatory collaboration between the public and private sectors.

Geoeconomics and Economic Warfare

Today, economic instruments are not only used for development purposes but also as strategic tools of pressure in foreign policy. Methods such as embargoes, sanctions, disruption of energy supplies, and manipulation of capital flows constitute direct threats to economic security. Such practices are examined under the headings of economic warfare or geoeconomic competition. This development signals the transfer of classical geopolitical rivalry into the economic domain.