On the Politics of International Real-Estate Projects: The Case of Albania

During times of global peace, it is easy to suppose that increased economic interdependency between countries reduce the likelihood of war due to the ramifications on the business projects. By a similar logic by analogy, a couple could suppose that by getting married, the increased interdependence would make breaking up more difficult, and thus less likely. What is overlooked here is that emotions, whether in a romantic relationship or between governments, can, if allowed to go unchecked, break through the parchment barriers that we set up as if they could constrain even intense, ongoing emotions. A couple using marriage as a substitute for going to couples-counseling could actually make a break-up more likely once in the marriage. Similarly, peace abroad and domestic tranquility can be thwarted by international real-estate development projects themselves. Such a situation was unfolding in Albania in mid-2026.

The full essay is at "On the Politics of International Real-Estate Projects."

E.U.-India Free Trade

Early in 2026, “(a)fter months of intense negotiations,” the E.U. concluded “a free-trade deal with India,” which, if ratified by the E.U.’s upper and lower chambers (the European Council and the European Parliament), would sharply reduce “tariffs on E.U. products from cars to wine as the world looks for alternative markets following President Donald Trump’s tariffs.”[1] Signaling that something more than trade was involved in the treaty, “(b)oth countries hailed a ‘new chapter in strategic relations’ as both sides” sought “alternatives to the US market.”[2] The E.U. had just engineered a free-trade treaty with four South American countries. Competition for better, cheaper, trade was reducing Trump’s bargaining power by means of tariffs. Using them to inflict geopolitical harm on other countries, including the E.U., would become less effective as free-trade deals excluding the U.S. materialized. The implications, and even the motive in the free-trade negotiations between the E.U. and India, extend beyond economics.

The full essay is at "E.U.-India Trade."

---

1. Peggy Corlin and Maria Tadeo, “EU Inks ‘Mother of All Deals’ with India Trade Agreement Amid Global Turmoil,” Euronews.com, January 27, 2026.
2. Ibid., italics added.

Russia’s Bottom-Line on Ukraine

As American, Ukrainian, and Russian negotiating delegations were flying around the world in early December, 2025 to conduct various negotiating sessions, all the while without the presidents of Russia and Ukraine meeting, it was difficult for bystanders to keep an eye on the proverbial ball as it was being kicked around by offers and counter-offers, and complicated by the high-profiled presence of the businessman, Jared Kushner, who happened to be married to one of U.S. President Trump’s daughters. Kushner was also highly visible in the negotiations on Gaza, which almost certainly included real-estate development. To be sure, commercial and investment deals can easily remain subterranean while the public discourse stays on the political relations between nations, and even just the latter may lack transparency. Democratic accountability in democratic republics as concerning the conduct and results of foreign policy can be difficult. Especially difficult to gauge was the hand being closely held by Russia’s President Putin. I contend that his willingness to negotiate was consistently overestimated by the West and Ukraine.

The full essay is at "Russia's Bottom-Line on Ukraine." 

Russian Electricity Hits a Financial Curtain

On February 8, 2025, the E.U. states of Estonia, Latvia, and Lithuania turned off all electricity-grid connections to Russian and Belarussian supplies of electricity, thus reducing revenues for the belligerent country and its ally. Electricity would thenceforth merge with the Continental European and Nordic grids through links with the E.U. states of Finland, Sweden, and Poland. Europe was taking care of its own, for a price of course, while Russia was increasing trade with China and other countries to make up the difference from decreasing trade with Europe. In short, it can be concluded that unilaterally invading a country has economic consequences that diminish and reconfigure international business.

The full essay is at "Russian Electricity Hits a Financial Curtain."

On the Potential of International Business to Render War Obsolete: The Case of Russian Gas

In a graduate-level course on international business, a professor sketched out the political-economic philosophy of international business, whose mantra is that if two or more countries have enough trade and foreign direct-investment, those countries would be less likely to go to war. In short, economic interdependence, thanks to international business, can render war obsolete and thus greatly enhance the human condition. Decades after I had taken that course, a business professor at the same university wrote extensively on the role that business can play in facilitating peace. Unfortunately, that economically-sourced theory of international relations downplays or ignores that the reasons or rationales for going to war and the decisions taken by a government for military-strategic reasons during a war can trump the (especially immediate) economic benefits from international business, whether in terms of imports, exports, or foreign direct-investment by foreign firms at home or by domestic firms abroad. This can occur even though revenue from taxes or state-owned enterprises having to do with trade and foreign-direct investment can help a government in fighting a war. The case of Ukraine cutting off Russian natural gas from traveling through Ukraine in pipes to the E.U. as of January 1, 2025 is illustrative of vulnerability in the theory of international business as a way to world peace.

The full essay is at "On the Potential of International Business."

Modern Day Mercantilism: Donald Trump Intervenes at Carrier

The tension between the free-market philosophy and mercantilism (e.g., an industrial policy) has been longstanding. I contend that the philosophy of international business (or international economics) is flawed terms of how far comparative advantage is applied, even at the expense of full employment at the city or country level. The case of Carrier in Indiana points to the legitimacy of government intervention even at the expense of comparative advantage.

The full essay is at "Modern Day Mercantilism."

 

Apple Owes Back-Taxes in the E.U.: Blame Ireland or Apple?

The European Commission issued a formal decision on August 30, 2016 that the state of Ireland “recoup roughly €13 billion ($14.5 billion) of unpaid taxes accumulated over more than a decade by Apple, Inc.”[1] The decision “shows companies could be on the hook for past behavior and potentially be handed big bills for allegedly unpaid back taxes.”[2] E.U. law “forbid companies from gaining advantages over competitors because of government help.”[3] This applies both the federal government and the state governments, so the law could be better stated as, “No state government shall help companies gain advantages over their competitors.” Presumably Ireland’s government made the offer of help, rather than Apple getting that government to comply with the company’s wishes. If so, the state government rather than the company should be held responsible. Put another way, if Apple’s board and management considered the Irish offer to be legitimate at the time, Apple should not be held to pay the back taxes; rather, the state government should pay a penalty to the Commission.

The full essay is at "Ireland or Apple?"

---

[1] Natalia Drozdiak and Sam Schechner, “$14.5 Billion Irish Tax Bill,” The Wall Street Journal, August 31, 2016.

[2] Ibid.

[3] Ibid.

Pope Francis on Climate Change: The Mutually-Reinforcing Impacts of Power, Wealth, and Culture

Writing in 2015, Pope Francis addressed the problem of climate change and suggested what he, or the Vatican more broadly, considered to be necessary systemic changes on the road to recovery. In the encyclical, the patient may be human nature itself—specifically, its self-destructive propensity and trait of power-aggrandizement. In other words, we had lost control of our built-up (i.e., artificial) societal systems and structures, which could wind up strangling us in their protection of the status quo. In this essay, I discuss the Pope’s portrayal of the problem of climate change from the standpoints of culture, power, and wealth. I then address the feasibility of the Pope’s prescription.

The full essay is at “Pope Francis on Climate Change.”

Google Finds an Obstacle in the E.U.: A Lesson for Americans?

The European Court of Justice, the E.U. Supreme Court, ruled on May 13, 2014 that Google must defer to the right of users to have links about themselves deleted. Google’s management had sought to obviate any obligation to act on such requests. The New York Times points out that the decision indicates “that such companies must operate in a fundamentally different way than they do in the United States.”[1] The ring of fundamentality has implications for the international strategies of internet companies and affords us a better look at how business plays out in society differently in different societies.

From: "Google in the E.U. and U.S."