Economic Sanctions and the Ethics of Collateral Damage

This paper was presented at the 7th Transatlantic Conference on “The Ethics of Business, Trade, & Global Governance” - Geopolitics and the Ethics of Finance and Trade, held at Stift Klosterneuburg, Austria, January 9-10, 2025. 📄 Download PDF The paper is published by the Hayek Institut. You can find the link to the full publication here. Abstract Economic sanctions are often imposed on governments as a tool to change their behavior, typically in response to human rights violations, support for terrorism, or military aggression. When applied broadly, these sanctions affect the entire economy, including small and medium-sized businesses (SMEs) and the general population. SMEs account for about 90% of businesses and provide over 50% of jobs worldwide (World Bank). ...

October 2, 2025 · 50 min · Mahmoud Rasmi

From Finance to Philosophy

The following is a snippet from my book Philosophy for Business Leaders. I never really wanted to study philosophy. In fact, the idea never crossed my mind. At college, after dabbling with a variety of courses that included calculus, organic chemistry, biology, economics, and finance, I decided I wanted to understand what a stock was and the underpinnings of the financial world. I was mesmerized by all the numbers displayed on big screens, sometimes with weird candle-like figures, squeezed between lines on either side and numbers flaring in red and green every other second. ...

July 26, 2025 · 5 min · Mahmoud Rasmi

When Legality Isn't Enough: What Is Ethics?

This article is an excerpt from my book Philosophy for Business Leaders: Asking Questions, Navigating Uncertainty, and the Quest for Meaning. I once moderated an online session that revolved around discussions about personal finance, investments, and entrepreneurship. During the session, I asked the guest a question that sparked concerns about the importance of ethics in the business world. The guest, wearing a smile, along with many attendees—most of whom were bankers and professionals—agreed that as long as actions are legal and compliant, there is no problem. ...

July 19, 2025 · 11 min · Mahmoud Rasmi