A lesson from Putin's war - defence spending is not a luxury
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Ukrainian military blocking a road in the so-called government quarter in Kyiv on Feb 24, as Russian forces invaded from several directions.
PHOTO: AFP
Kenneth Rogoff
Russia's brutal invasion of Ukraine should be a wake-up call for Western politicians, corporate leaders and economists who advocate a green and equitable future but lack any practical or strategic sense of how to get there.
Regardless of what short-term tactics Europe and the United States use in responding to the current crisis, their long-run strategy needs to put energy security on a par with environmental sustainability, and funding essential military deterrence on a par with financing social priorities.
