Playing by the rules

This morning’s NYTimes proclaimed that:“The Biden administration, responding to the death of Aleksei A. Navalny, unveiled its largest sanctions package to date as the war in Ukraine enters its third year.”

On November 30, 2023, Phillip Dean Hancock was executed in Oklahoma. As the death penalty has been eliminated in most countries and such killing is considered immoral by millions of people around the world, what sanctions would be appropriate for them to impose on the U.S.?

A quite different case arises from killing an enemy in someone else’s country (aside from in war, where anything seems to be “allowed.”)  On February 13 of this year, Maxim Kuzminov, a former Russian military pilot who defected to Ukraine, was found dead with multiple bullet wounds in Villajoyosa, a city on Spain’s Mediterranean coast. The murder is suspected to have been organized by Moscow. What measures should Spain take against Russia in response (hopefully the U.S. will keep its nose out of other people’s business—fat chance)?

On January 3, 2020, the U.S. assassinated Qasem Soleimani, an Iranian major general and the commander of the Iranian Quds Force, in Baghdad. More recently, on February 7, 2024, Abu Baqir al-Saadi, a senior commander in Kataib Hezbollah, an Iran-backed Iraqi militia, was killed in a U.S. drone strike in Baghdad. What measures should Iraq (and Iran) take against the U.S.?

The rule of law is a fundamental aspect of our freedoms and the prosperity it has made possible. The international rules based order is an extension of those principals internationally and has served, though imperfectly, the same purposes globally. The U.S. has become an Imperial power who doesn’t obey the rules it tries to impose on others. Thus, American influence in the world is declining rapidly. We will all suffer as a result.

Author: Warren Coats

I specialize in advising central banks on monetary policy and the development of the capacity to formulate and implement monetary policy.  I joined the International Monetary Fund in 1975 from which I retired in 2003 as Assistant Director of the Monetary and Financial Systems Department. While at the IMF I led or participated in missions to the central banks of over twenty countries (including Afghanistan, Bosnia, Croatia, Egypt, Iraq, Israel, Kazakhstan, Kenya, Kosovo, Kyrgystan, Moldova, Serbia, Turkey, West Bank and Gaza Strip, and Zimbabwe) and was seconded as a visiting economist to the Board of Governors of the Federal Reserve System (1979-80), and to the World Bank's World Development Report team in 1989.  After retirement from the IMF I was a member of the Board of the Cayman Islands Monetary Authority from 2003-10 and of the editorial board of the Cayman Financial Review from 2010-2017.  Prior to joining the IMF I was Assistant Prof of Economics at UVa from 1970-75.  I am currently a fellow of Johns Hopkins Krieger School of Arts and Sciences, Institute for Applied Economics, Global Health, and the Study of Business Enterprise.  In March 2019 Central Banking Journal awarded me for my “Outstanding Contribution for Capacity Building.”  My recent books are One Currency for Bosnia: Creating the Central Bank of Bosnia and Herzegovina; My Travels in the Former Soviet Union; My Travels to Afghanistan; My Travels to Jerusalem; and My Travels to Baghdad. I have a BA in Economics from the UC Berkeley and a PhD in Economics from the University of Chicago. My dissertation committee was chaired by Milton Friedman and included Robert J. Gordon. I live in National Landing Va 22202

4 thoughts on “Playing by the rules”

  1. With all due respect, there are bad guys and good guys in the world. Solemeini, Baghdadi. and Putin were/are murderous bad guys. They rampage(d) against innocents. The State of Oklahoma’s execution of Hancock was conducted after a jury found him guilty of murder — the rule of law prevailed. Navalny was executed for political reasons because he opposed a murderous dictator. Quite different circumstances.

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