The thirty-five years of relative peace and global stability that followed the Cold War have now come to an end.
A growing alliance of authoritarian regimes, led by China, Russia, Iran, and North Korea (CRINKS), is steadily intensifying its challenge to the Western-led post-war order.
Much like in the 1930s, when Western democracies failed to deter the Axis powers, the question arises: Does the West possess the will and economic strength to ensure that deterrence does not falter once again? What lessons can be drawn from the recent conflicts in Ukraine and the Middle East?
One economist argues that the ancient dictum Si vis pacem, para bellum (If you want peace, prepare for war) has never seemed more relevant.
Michael is a Professor at City St George’s, University of London and former head of its Economics department. He has worked at the University of Houston, University of Haifa and the Bank of Israel and served on the US National Academy of Sciences Panel on Economic and Fiscal Impact of Immigration and the Technion's Economics of National Security Program. He serves on the Grant Assessment Panel of the Economic and Social Research Council (ESRC) from 2021 and the editorial board of Economic Affairs.
He has appeared on Al Jazeera, BBC, CNBC, GBNews, Israel's Kan Reshet Bet Radio, Sky News and published commentary in the Conversation, Financial Times, Institute for Economic Affairs (IEA) Blog, Haaretz, LSE EU Politics, LSE Economics and Finance, Quillette and Israel’s economics newspaper The Marker.
