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
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.
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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.
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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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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 think it is an 'in-your-face' move and who knows what's going to happen,
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we took on as a project helping a village in western Kenya. It was 5,000 hungry people beset with malaria and AIDS. And we said, 'let's apply the recommendations of the Millennium Project in this village with the support of a private donor, because government donors don't seem to do such practical things.' And we helped them get improved seeds and some fertilizer for the planting season. That's all. Very low cost. They produced four times more food this year than last year.
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I'm focusing on a world divided between rich and poor, and a world that doesn't seem to be able to manage the natural base of our lives: air, oceans, or biodiversity. It's a mistake to think that globalization is automatically beneficent and should run its due course-but also to think that it ought to be shut down.
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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.
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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.
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If the whole world went into recession, all the major central banks could cut interest rates and expand the money supply.
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If you have billions and billions of dollars coming due in a country in a short period of time, and if a sense of panic develops among your creditors, so that everybody demands the money out all at once, it's almost inevitable that the debtor economy will collapse, because it won't be able to come up with that amount of money in a short period.
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The world got side-tracked from development issues during the post-9/11 crisis period.
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It's not an accident that the U.S. ranks lowest of all major donor countries in the world - that is the share of our income that goes to development aid. Americans will ask whether, because were so generous privately, that makes up the difference. But it doesn't. We still rank far below other countries.
believe engagement politician
I believe myself that there's a great deal more interest and engagement among Americans than our politicians recognize.