Casualties of War
Milken Institute Review Second Quarter 2015
The dominance of the U.S. financial system in global economic activity generates huge benefits for the United States - not least by giving Washington a potent means to strangle terrorism. But, as is now becoming apparent, this capacity to project financial power to the ends of the earth is yielding unintended consequences that are not in the United States' interests. And keeping the metaphoric baby safe while throwing out the bathwater will not be easy.