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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.

Jeffrey Sachs

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Jeffrey Sachs
Age: 70
Born: 1954
Born: November 5
Economist
University Teacher
Writer
Detroit
Michigan
Jeffrey David Sachs
Jeffrey D. Sachs
Market
Burst
Greatest
Bubble
Went
Bubbles
Wells
Finance
Well
Stock
Different
Depression
Things
Enter
World
Somehow
Booming

More quotes by Jeffrey Sachs

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Every morning our newspapers could read, 'More than 20,000 people perished yesterday of extreme poverty.' How? The poor die in hospital wards that lack drugs, in villages that lack antimalarial bed nets, in houses that lack safe drinking water. They die namelessly, without public comment. Sadly, sad stories rarely get written.
Jeffrey Sachs
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Roosevelt talked not only about Freedom from Fear, but also Freedom from Want.
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There is no economic imperative that will condemn us to deplete our vital resource base, but neither is there an invisible hand that will prevent us from doing so.
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It's the American leadership that has not played the role it should be playing and that leaders in other countries have been playing.
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My colleagues and I took a stand in our work several years ago that we would not look for the magic bullet, because there is none. These are just basic problems requiring basic work. Nothing magic about it.
Jeffrey Sachs
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Russia has gone through eight years of continuing economic pain.
Jeffrey Sachs
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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.
Jeffrey Sachs
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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.
Jeffrey Sachs
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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.
Jeffrey Sachs
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The world got side-tracked from development issues during the post-9/11 crisis period.
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The defining challenge of the 21st century will be to face the reality that humanity shares a common fate on a crowded planet.
Jeffrey Sachs
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This is our greatest challenge: learning to live in a crowded and interconnected world that is creating unprecedented pressures on human society and on the physical environment.
Jeffrey Sachs
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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.
Jeffrey Sachs
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Devaluations are never easy.
Jeffrey Sachs
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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.
Jeffrey Sachs
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Let the future say of our generation that we sent forth mighty currents of hope and that we worked together to heal the world.
Jeffrey Sachs
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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.
Jeffrey Sachs
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Globalization was a deep trend pushed by technology and right ideas, as much as anything else.
Jeffrey Sachs
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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.
Jeffrey Sachs
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White House and State Department foreign-policy experts are overwhelmingly directed towards military and diplomatic issues, not development issues.
Jeffrey Sachs