ISFiT presents: Power of Money

Part 1 of the trilogy debate on structural power, climate and money; The power of money: the impact of sanctions? One of the clearest manifestations of the political power of money is through economic sanctions—a tool wielded by nations and international organizations to exert pressure, enforce policies, and shift global dynamics. Sanctions operate as an extension of monetary power, leveraging economic dependency and financial systems to achieve geopolitical objectives without direct military intervention.

Sanctions highlight the interconnectedness of economics and structural power. They reveal the leverage that wealthy, economically dominant nations hold over others, demonstrating how the power of money extends far beyond its material value. At the same time, sanctions underscore the inequalities baked into global systems: only nations with structural economic strength can effectively impose them, while those targeted often bear significant societal and developmental costs.

In this debate, we will unpack the political power of sanctions, the structural and legal hierarchies that make them possible, and their wide-ranging impacts on economics, governance, and human lives. By doing so, we aim to highlight the role of money not just as a medium of exchange, but as a cornerstone of political influence, hence unveiling one of the aspects of the power of money.

Please join us in an interesting deep dive into the power of money seen through the lens of political sanctions.

Richard Disney, Professor of Economics at University Of Sussex

Erika Szyszczak, Professor of Law at the University of Sussex

Iikka Korhonen, the Director of Bank of Finland Institute for Emerging Economies (BOFIT)