Economist Jeffrey Sachs argues U.S. delusions of global dominance fuel financial instability and failed sanctions on Iran and Russia

Economist and policy advisor Jeffrey Sachs discusses how he believes Washington's overestimation of American power is driving both military interventions abroad and asset bubbles at home. Drawing on his experience advising Russia during the Soviet collapse and studying Asian economic development, Sachs argues that U.S. attempts to isolate Iran and Russia through sanctions are backfiring, pushing those countries to develop alternative economic partnerships instead. The analysis argues these policy failures stem from institutional delusion about the limits of American geopolitical leverage.