Obeying the rules is in our interest

The U.S. Department of Justice indicted former Cuban President Raúl Castro for his alleged role in the 1996 Cuban military downing of two civilian planes operated by the exile group Brothers to the Rescue, which killed four people (including three U.S. citizens).Since September 2, 2025, the U.S. military has attacked suspected drug boats in the Caribbean and the Eastern Pacific 59 times, killing 196 people. Shouldn’t we be indicting Secretary of War, Pete Hegseth, for murder?

“According to President Donald Trump’s mysterious math, that means this campaign of carnage has prevented around 1.5 million drug-related deaths in the United States—more than 20 times the total number recorded in the year before Trump started treating suspected cocaine smugglers as ‘combatants’ who can be killed at will, from a distance and in cold blood.

“Back on planet Earth, there is no reason to think the boat strikes have prevented any deaths at all. That could only happen if blowing up smugglers—as opposed to the previous practice of intercepting them, arresting them, and seizing their cargo, which Trump says was ‘totally ineffective’—reduced the supply of cocaine available to American consumers. Given more than a century of failed attempts to ‘stop the flow’ of illegal intoxicants, that never seemed likely. And nearly nine months after Trump launched his new, deadlier version of the war on drugs, there is no evidence that it is more effective than the traditional tactics he derides as insufficiently homicidal.” Jacob Sullum, “Blowing up boats hasn’t slowed cocaine traffic to U.S.”

Should we care about such a double standard? Yes. What we are doing is not only illegal but also immoral. Hopefully we aspire to behave morally because we aspire to be moral people. But there is a practical self-interest in playing by the rules as well.

We could often get our way simply because we are the strongest guy on the block. President Trump seems to like being a bully. However, pushing others around has a cost. The better we can live up to the high principles upon which our nation was founded, the more respect we will receive from others (nations and people). One of those important principles is adhering to the rule of law. Such respect means that others will cooperate with us more easily (at lower cost to us).

International norms and conventions generally serve the interests of all who have agreed to them. Win, win. When we violate them, the world pays a cost and so do we.

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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

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