The contempt US intelligentsia and politicians have for Russia’s accomplishments has rendered them blind to Moscow’ true economic strengths
U.S.-led sanctions were supposed to cripple Russia’s economy and force Putin to pull out of Ukraine, but it turns out that the suffering from these sanctions in an interdependent global economy are spread around, as American consumers are discovering with record-high gas prices. So what happened? According to one French economist, Americans fundamentally failed to understand the importance of Russia’s productive output and talk of Russia’s economy being “the same size as Spain’s” reflected a similar misunderstanding of the modern global economy. Jimmy and The Dive’s Jackson Hinkle tackle the consequences of the west’s underestimating Russian economic power.