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
asia central face obstacles work
Development can really work everywhere. But most of sub-Saharan Africa, the Andean region, and Central Asia face obstacles.
lived russia
Russia increasingly lived on short-term borrowing. Now, this was an extraordinary merry-go-round.
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.
action continue global high national rhetoric risks security stability states united
If we continue this combination of high rhetoric and grossly insufficient action, I think the risks to (the United States ') own national security ... and the risk to global stability are very real.
conditions current dangers financial proper results
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.
fresh
Let's start fresh with Russia on some real help and some real reform.
actions almost authority aware counted gap government meet needed nobody senior treasury
Senior development specialists in the Treasury can be counted on one hand. America's government is not even aware of the gap between its commitments and action, because almost nobody in authority understands the actions that would be needed to meet the commitments.
aid days debt demands early fictional hook ran russia until western
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.
The debts are unaffordable. If they won't cancel the debts I would suggest obstruction; you do it yourselves.
chasm crisis crossed difficult economic economy financial market parts requires whether
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.
facing fully realities strength
There's a lot of strength in the U.S., but there's a lot of froth also. The froth will blow off. We're going to have to face up to some realities that we're not fully facing up to right now.
came campaign corrupt corruption government helped increased money pay practices returned
A lot of the old apparatchiks came back in, and corruption really dramatically increased in '94/'95, particularly around Yeltsin's re-election in 1996, when the government used corrupt practices to give money to business, part of which was returned to the campaign coffers, and helped pay for Yeltsin's re-election.
fighting wars wrong
We're fighting all the wrong wars in this country.
continue costs greater infected million past shocking today until vastly waited
We've waited 20 years, until we have 36 million infected in the world, before we've started to do something, ... It's shocking how we've let this go on. And costs of intervening today are vastly greater than they would have been in the past and they'll be greater if we continue to dither on this.