According to Nobel Prize-winning economist Simon Johnson, the real problem with sanctions regimes isn't the concept itself—it's the follow-through.

His point hits harder when you look at recent global economic interventions. Many well-intentioned policy frameworks collapse not because they're poorly designed on paper, but because implementation gaps undermine their effectiveness. Johnson argues that execution matters as much as strategy in international economic governance.

This perspective matters for anyone tracking macro trends and capital flows. When geopolitical tensions drive policy decisions, the gap between intended and actual impact can create unexpected market dislocations. Asset allocation and risk management strategies need to account for not just what governments say they'll do, but whether they can actually pull it off.

The lesson: pay attention to the details of how policies get implemented, not just the headlines announcing them. Markets often misprice scenarios where policy intent and policy execution diverge significantly.