Jeffrey Sachs

(Jeffrey David Sachs)

Jeffrey Sachs
Jeffrey Sachs
  • Born: November 5, 1954
  • Nationality: American
  • Profession: Economist









Quote Topics Cited
A society without civil, political, and property rights may indeed find it difficult to innovate innovation outside the military sector, but it often has a relatively easy time adopting technologies that have already been developed elsewhere. Politics, Politicians & Political Campaigning & Fund Raising
As middle income countries become more affluent, they add meat to their diet Meat puts a double strain on because feeding animals with feed grains to eat the meat adds an extra burden. It takes 10-15 kilograms of feed grain to produce 1 kilogram of beef, so beef in the diet adds an incredible multiplier effect for grains. Nutrition, Food, Starvation, Farming & Agriculture
Congress called a special session to debate the treatment of a woman in a persistent vegetative state on a day that 20,000 children died in the third world. Politics, Politicians & Political Campaigning & Fund Raising
For a quarter-century, and changing only very recently, the main IMF prescription has been budgetary belt-tightening for patients much too poor to own belts. IMF led austerity has frequently resulted in riots, coups, and the collapse of public services. Compliments, Insults & Rebukes
History is written by the rich so the poor get blamed for everything. History
Malaria in Africa did not come from bad governance. It came from bad mosquitoes. Health, Healthcare & Medicine
Markets can do certain things, but markets cannot do other things Economics, The Economy & Fiscal Affairs ;Capitalism
The only people whose views count in the legislation that passes are those with big money. It doesn’t matter what the great majority of Americans want. Our Congress is bought. Corruption
There are at least 1 billion people who struggle for basic caloric protein sufficiency; probably another 2 billion people … who have serious micronutrient deficiency… We don’t have a healthy food supply for the world, nor is it assured for the future. Nutrition, Food, Starvation, Farming & Agriculture
When a society is economically dominant, it is easy for its members to assume that such dominance reflects a deeper superiority—whether religious, racial, genetic, ethnic, cultural, or institutional—rather than an accident of timing or geography. Equality & Equal Opportunity
Despite a decade of criticism and budget cuts, the specialised UN agencies have far more expertise and hands-on experience than any other organisations in the world.
Devaluations are never easy.
Globalization was a deep trend pushed by technology and right ideas, as much as anything else. Science, Mathematics, Engineering & Technology
I think the IMF helped to detonate the Indonesian crisis.
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. Money, Coins & Minting
If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days. Time ;Money, Coins & Minting
In Asia, a lot of successful economies that had been living on their own saving, decided to open up their financial markets to international capital in the early 1990s. So here were countries doing quite well, but they decided they'd borrow a bit more and do even better.
In my view, there is an urgent need to communicate with the public and help to explain where there is consensus, and where are there doubts about the issues of sustainable development.
In the early 1990s, when a lot of the developing world opened up to international capital flows... they ended up in very good long-term projects, but projects that weren't going to pay off for five or 10 or 20 years.
It's not so unusual to run out of someone else's currency.
Let's start fresh with Russia on some real help and some real reform.
Roosevelt talked not only about Freedom from Fear, but also Freedom from Want. Freedom & Liberty
Russia has gone through eight years of continuing economic pain.
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. Government
The basic idea was that if a country would put its economy as an integrated piece of the world system, that it would benefit from that with economic growth. I concur with that basic view.
The debts are unaffordable. If they won't cancel the debts I would suggest obstruction; you do it yourselves.
The essence of Africa's crisis is fundamentally its extreme poverty.
The great leaders of the second world war alliance, Franklin Roosevelt and Winston Churchill, understood the twin sides of destruction and salvation. Their war aims were not only to defeat fascism, but to create a world of shared prosperity. War & Peace
The idea that UN commitments should be followed by action is indeed a radical one, especially for the United States, where wilful neglect of its own commitments is the rule.
The longer you wait, the less fun. If you wait until the bitter end, the whole economy can be destroyed.
The runs started in Thailand after the IMF intervened in such a dramatic way. Then the IMF came to Indonesia.
The Russian drama began at the end of 1991, when the Soviet Union mercifully ended. Russia and 14 other new countries emerged from the ruins of the Soviet Union. Every one of those 15 new states faced a profound historical, economic, financial, social and political challenge.
The truth of good economic doctoring is to know the general principles, and to really know the specifics. To understand the context, and also, to understand that an economy may need some tender loving care, not just the so-called hard truths, if it's going to get by. Truth
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.
Unfortunately, the real focus in this country has not been on the rest of the world. It's been on our own issues and our own problems. Fair enough. But it means that our simple hopes that everything will just work out abroad aren't really coming to pass. Work, Workers & The Labor Force
We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different. Business, Commerce & Finance
We were proposing, in a sense, that the rest of the world be made safe for American ideas, as they adopted intellectual property rights that gave patent protection to our very innovative economy.
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.
We're going to have to forgive a great deal of the Soviet era debt. There's no question about that. Let's face up to that. We're going to have to put in money if Russia is really going to consolidate a democracy. Money, Coins & Minting
We've taken the view that if the rest of the world would democratize and create market economies, that would spread the benefits of prosperity around the world, and that it would enhance our own prosperity, and our own stability and security, as well. Business, Commerce & Finance
White House and State Department foreign-policy experts are overwhelmingly directed towards military and diplomatic issues, not development issues.