Quote

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

Change background

T
T
T

Change font

TAGS & TOPICS

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

More quotes by Jeffrey Sachs

Image
Russia has gone through eight years of continuing economic pain.
Jeffrey Sachs
Image
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
Image
I believe myself that there's a great deal more interest and engagement among Americans than our politicians recognize.
Jeffrey Sachs
Image
My concern is not that there are too many sweatshops, but that there are too few.
Jeffrey Sachs
Image
Devaluations are never easy.
Jeffrey Sachs
Image
Our interconnectedness on the planet is the dominating truth of the 21st century. One stark result is that the world's poor live, and especially die, with the awareness that the United States is doing little to mobilise the weapons of mass salvation that could offer them survival, dignity and eventually the escape from poverty.
Jeffrey Sachs
Image
The rich do not have to invest enough in the poorest countries to make them rich they need to invest enough so that these countries can get their foot on the economic ladder . . . Economic development works. It can be successful. It tends to build on itself. But it must get started.
Jeffrey Sachs
Image
History is written by the rich, and so the poor get blamed for everything.
Jeffrey Sachs
Image
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
Image
The essence of Africa's crises is fundamentally it's extreme poverty.
Jeffrey Sachs
Image
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
Image
It's quite possible to arrive in the year 2030 where people are no longer dying of poverty. We could actually help lead a global end-not a reduction, but an end-to absolute poverty...I have always found that a committed, powerful group of leaders, can make a huge difference.
Jeffrey Sachs
Image
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
Image
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
Image
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
Image
The runs started in Thailand after the IMF intervened in such a dramatic way. Then the IMF came to Indonesia.
Jeffrey Sachs
Image
White House and State Department foreign-policy experts are overwhelmingly directed towards military and diplomatic issues, not development issues.
Jeffrey Sachs
Image
Globalization was a deep trend pushed by technology and right ideas, as much as anything else.
Jeffrey Sachs
Image
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.
Jeffrey Sachs
Image
It's the American leadership that has not played the role it should be playing and that leaders in other countries have been playing.
Jeffrey Sachs