2022 Lindau Nobel Laureate Meetings – Panel Discussion: „Economics and Politics of War and Sanctions“

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„If you are going to impose sanctions, you want to organize them so that they will be as effective as possible – and in the case of the current war, I am not sure that they have been.“ – Eric Maskin

Since Russia’s annexation of Crimea in 2014, sanctions aimed at deterrence have been increasingly used to dissuade Putin from further military expansion – until the military attack on Ukraine on February 24 reshuffled the cards worldwide. Six months after the war began, Saskia Meuchelböck of the Kiel Institute for the World Economy and Nobel laureates Oliver Hart, Eric S. Maskin and Sir Christopher A. Pissarides evaluate the effectiveness and success of ongoing economic sanctions at the Lindau Nobel Laureate Meetings. The use of the economic weapon aims to end the war; while Oliver Hart focuses on the punitive effect, Eric Maskin hopes for sanctions as an incentive to move Russia to the negotiating table. Even if the sanctions used weaken the Russian economy, unintended political consequences within Russia may counteract their success, as Ms. Meuchelböck confirms using recent studies. The time horizon and trade-offs put pressure on the sanctioning countries: “How long can we affort this situation?” is a question posed by moderator Klaus Schweinsberg to the invited guests.

To the video of the panel discussion

Artificial intelligence – a topic for the supervisory board?

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In their article in “Der Aufsichtsrat”, Professor Philip Meissner and Professor Klaus Schweinsberg address the monitoring obligations of supervisory boards with regard to the use of AI in corporate practice. Calling in independent expertise or monitoring the risk management system with regard to AI pose new challenges for supervisory boards. The authors consider four relevant risk dimensions here.

To the article in “Der Aufsichtsrat”

How Germany trains its elite soldiers

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While the Bundeswehr has recently been increasingly aligned with business standards, military leadership skills are increasingly coming into focus in companies these days. Decision-making skills in complex situations, geopolitical risk management, strategic analysis under time pressure – how can the military mindset enrich top management?
Sonja Banze from Manager Magazin shares her insights into the Bundeswehr Command and Staff College (Führungsakademie der Bundeswehr) in Blankenese in the podcast.

To the Manager Magazin podcast

The war and state economy

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The Russian war of aggression against Ukraine has plunged Europe into a crisis that requires special measures in public finance. That the state is taking up the reins and increasing its influence in some areas may be justified by the special circumstances – although duration and proportionality must not be ignored. In Manager Magazin, Klaus Schweinsberg, Managing Director of the Centre for Strategy and Higher Leadership, discusses what entrepreneurs should watch out for in the private sector and what they should be prepared for.

To the article in Manager Magazin

The Catholic Church needs women – the Pope could easily go one step further

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On Pentecost Sunday this year, the latest efforts at curia reform came into effect with the Praedicate Evangelium. In the structural realignment of the governing and administrative bodies of the Catholic Church, Professor Klaus Schweinsberg sees the second step of a governance strategy of Pope Francis confirmed. Top offices are now also open to lay people and thus to women. The guest commentary puts up for discussion further courageous steps that can point to the future with a view to canonical traditions.

To the article in the NZZ