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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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Jeffrey Sachs
Age: 70
Born: 1954
Born: November 5
Economist
University Teacher
Writer
Detroit
Michigan
Jeffrey David Sachs
Jeffrey D. Sachs
Without
Price
Something
Rate
Recession
Always
Gold
Recessions
Europe
Rates
Worry
Expand
Possible
Worrying
Interest
Supply
Money
Lower

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Devaluations are never easy.
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The essence of Africa's crises is fundamentally it's extreme poverty.
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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.
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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.
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At the most basic level, the key to ending extreme poverty is to enable the poorest of the poor to get their foot on the ladder of development.
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My concern is not that there are too many sweatshops, but that there are too few.
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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.
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The runs started in Thailand after the IMF intervened in such a dramatic way. Then the IMF came to Indonesia.
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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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Roosevelt talked not only about Freedom from Fear, but also Freedom from Want.
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Globalization was a deep trend pushed by technology and right ideas, as much as anything else.
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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 to borrow a bit more and do even better.
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Russia has gone through eight years of continuing economic pain.
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White House and State Department foreign-policy experts are overwhelmingly directed towards military and diplomatic issues, not development issues.
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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.
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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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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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It's not so unusual to run out of someone else's currency.
Jeffrey Sachs
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I believe myself that there's a great deal more interest and engagement among Americans than our politicians recognize.
Jeffrey Sachs
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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.
Jeffrey Sachs