Russia’s war against Ukraine is hastening the decline of globalization, economist Adam S. Posen warns in this intriguing essay, a decline he notes has been going on for decades. Fewer opportunities for growth will likely result, constraining investment opportunities, raising food and energy prices, and delaying shifts to clean energy. But Posen’s sobering analysis does offer a small bright spot: These prospects might jar governments into again collectively promoting the shared values of political and economic freedom.
About the Author
Adam S. Posen is president of the Peterson Institute for International Economics.