Most assessments of the effectiveness of sanctions on Russia, with some exceptions, hold them to have been highly effective. My new INET Working Paper analyzes a few prominent Western assessments, both official and private, of the effect of sanctions on the Russian economy and war effort. It seeks to understand the goals of sanctions and bases of fact and causal inference that underpin the consensus view. Such understanding may then help to clarify the relationship between claims made by Western economist-observers and those emerging from Russian sources – notably from economists associated with the Russian Academy of Sciences (RAS). As we shall see, Russian views parallel those in the West on many matters of fact yet reach sharply different conclusions....
Most Western analysts haven't yet gotten the word that Russia has divorced the West and married itself to the East. Most Western analysts assume it is obvious that dependency on the West is just a recognition of reality, so a country either submits or it is finished economically, hence ripe for regime change and takeover by a compliant elite as a Western colony. Russia is of a different view for well-thought-out reasons and much prior preparation for what it assumed was inevitable in any case. Much of the rest of the world appears to be of a similar mind.
Naked Capitalism
James K. Galbraith: The Gift of Sanctions – An Analysis of Assessments of the Russian Economy, 2022 – 2023
James K. Galbraith | Lloyd M. Bentsen Jr. Chair in Government/Business Relations and Professor of Government at the Lyndon B. Johnson School of Public Affairs, The University of Texas at Austin
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There are two principal reasons that the West has long salivated for submitting Russia to its control. First, as the heartland Russia controls Eurasia and accordingly the world island according to Halford Mackinder's geopolitical theory adopted by Zbigniew Brzezinski. Russia has been under attack from its Western direction since its inception and even before in terms of tribal battles for territorial control. So this is nothing new and Russia prepared for it.
The second reason is Russia's abundant natural resources that the West not only covets but also needs. Russia is the most resource-rich country in the world. Putin is especially hated in the West, since he disrupted the neoliberal plan to submit Russia "democratically" under Yeltsin. It was working until the US attacked Serbia. Then the game changed drastically when Yeltsin chose Putin to replace him.
TOP 10 Countries with Most Natural Resources in the World
Country Comparison — Real GDP (purchasing power parity) [2023]
BTFP. The new Fed and Treasury bank liquidity program.
ReplyDeletehttps://mobile.twitter.com/jameslavish/status/1646160381079896065
Is this guy correct ?
Russia is the most resource-rich country in the world.
ReplyDeleteThis is a function of geography. Resources are equally distributed across the Earth - while human populations aren't. Canada has fewer people per square kilometer than Russia, and uses significantly more energy.