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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
Europe
Rates
Worry
Expand
Possible
Worrying
Interest
Supply
Money
Lower
Without
Price
Something
Rate
Recession
Always
Gold
Recessions

More quotes by 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.
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Globalization was a deep trend pushed by technology and right ideas, as much as anything else.
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Roosevelt talked not only about Freedom from Fear, but also Freedom from Want.
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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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My concern is not that there are too many sweatshops, but that there are too few.
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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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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.
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Russia has gone through eight years of continuing economic pain.
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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.
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The essence of Africa's crises is fundamentally it's extreme poverty.
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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.
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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.
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
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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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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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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.
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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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Devaluations are never easy.
Jeffrey Sachs
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It's not so unusual to run out of someone else's currency.
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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