Jeffrey Sachs
Jeffrey Sachs
Jeffrey David Sachsis an American economist and director of The Earth Institute at Columbia University, where he holds the title of University Professor, the highest rank Columbia bestows on its faculty. He is known as one of the world's leading experts on economic development and the fight against poverty...
NationalityAmerican
ProfessionTeacher
Date of Birth5 November 1954
CountryUnited States of America
believed change consensus countries early economies late market open people within
As of the late 1980s and early 1990s, a kind of professional consensus arose in Washington. It was called a consensus for the world, but how many people really believed all of it is an open question. A consensus came, at least within Washington, about how countries should change from non-market economies to market economies.
acted built financial gave government huge natural oligarchy ownership resource russian sector valuable
The Russian government not only acted corruptly, not only built up a new oligarchy of billionaires out of nothing, basically, but also gave away its most valuable financial assets-its ownership of the huge natural resource sector in Russia.
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My sense is that the IMF does not have a proper modus operandi for the current conditions in the world. They misjudge rhetorically. They misjudge tactically. They misunderstand the dangers of financial panic, and the results are terrible.
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The broader issue of the real role of the U.S., the foreign assistance aspect of that, who's going to pay for the security of a global economy?
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I want the donors to think ahead, not just handle the immediate crisis,
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In 2001, the prices of medications have continued to fall rapidly, ... Even though antiretroviral drug prices have declined to around $500 per year, this is still far above what poor countries can afford without donor assistance.
basis build change complex difficult healthy miraculous opportunity passages people remarkably russian soviet themselves union
In 1991, a miraculous thing happened, and that's the Soviet Union ended. So there was an opportunity to build a very healthy and new world, on the basis of the change that the Russian people themselves wanted. But for Russia to make that change was going to be one of the most remarkably difficult and complex passages imaginable.
expand interest lower money possible rates supply worrying
If we did go into a recession, something that's always possible for the U.S. or Europe, we could lower interest rates and expand the money supply without worrying about the price of gold.
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America's planned contribution to the global AIDS fund is around a sixth of what is needed in 2003, according to the fund itself.
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Development can really work everywhere. But most of sub-Saharan Africa, the Andean region, and Central Asia face obstacles.
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For many parts of the world, the chasm that has to be crossed to get from where they were, whether it's a dictatorship, economic collapse, financial crisis or all of the above, to the other side, that is a working market economy and a functioning democracy, is extraordinarily difficult and requires help.
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When is the last time anybody heard Vice President Dick Cheney even feign a word of concern for the world's poor?
billion bush fight fund global iraq prepared rid spend unwilling year
While the Bush administration is prepared to spend $100 billion to rid Iraq of WMD, it has been unwilling to spend more than 0.2% of that sum... this year on the Global Fund to Fight AIDS, Tuberculosis and Malaria.
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We, being the Western world, wouldn't let Russia off the hook on debt. So there were demands on debt servicing in the early days until they ran out of reserves. There was no real aid program, just a fictional aid program.