The isolation of Russia by much of the world economy may or may not convince Vladimir Putin to recall his invading troops from Ukraine (probably not).
But it does mean pain for Russia’s people and its economy as the value of the ruble craters.
National currencies like the ruble have been the subject of much debate in recent years, particularly as technology like bitcoin has come to present a non-national alternative to the dollar.
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I talked to Eswar Prasad, who’s a professor at the Dyson School of Applied Economics and Management at Cornell University, a senior fellow at the Brookings Institution and the author of “The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance,” about the sanctions on Russia and what it all means for money.
