Associate professor of economics, John Jay College-CUNY. Senior Fellow at Roosevelt. Blog: https://t.co/UehDfy2Hke. Newsletter: https://t.co/ZxpJdokqb0
Feb 14 • 4 tweets • 1 min read
I think this is right - Russia’s ability to sustain military spending despite being forcibly delinked from the global economy is a good sign for possibilities of escape from the Washington/Wall Street consensus in other directions. ft.com/content/9518bc…
I might even go a step further- there’s a fair amount of overlap between financial sanctions (imposed from the outside) and capital controls. If a country’s rich find that any wealth accumulated abroad is at risk of being seized, that’s a big help for any developmental project.