Global Business
Better Sanctions Can Weaken Russia
Yale SOM’s Jeffrey Sonnenfeld, who has helped lead the movement to isolate Russia, and co-author Steven Tian write that the current sanctions regime is spottily enforced and ignores key commodities exports. They suggest three steps policymakers should take to give economic sanctions real bite.
Can markets change society?
Professor Zhiwu Chen has been watching what’s happened as China adopts such financial instruments as mortgages and mutual funds. He was born in a rural village in China, and when he goes back, he says, he sees a country that’s being remade by markets.
Are markets local or universal?
A market is a place (virtual or tangible) where buyers and sellers meet. Markets exist everywhere people do. But each market has its particular customs, as simple as a handshake or as intricate as a 40-page contract.
How do you manage a global financial crisis?
When hedge fund Long-Term Capital Management plummeted toward bankruptcy in September 1998, its potential dissolution threatened the financial markets with disaster. Herb Allison, then the president of Merrill Lynch, was one of the few people in a position to avert a crash landing, but first he had to get a cranky coalition of competitive bankers and traders lined up behind his bailout plan.