Our Economic Times: Russian Sanctions Compromise Western Growth

This column was published in Savannah Morning News.

The United States and European Union have led the way in imposing economic sanctions on Russian businesses, government and citizens in response to the intensifying crisis in Ukraine. This was necessary, but it comes at a time when economic growth in the U.S. and Europe remains sluggish and deflationary pressures threaten the European region with becoming the next Japan of the 1990s. Is the precarious position in which the western world faces itself grounds for a more circumspect and targeted approach to incentivizing Russian action? Sanctions, emanating largely from the...