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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
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Recession
Always
Gold
Recessions
Europe
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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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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.
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 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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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.
Jeffrey Sachs
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History is written by the rich, and so the poor get blamed for everything.
Jeffrey Sachs
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Roosevelt talked not only about Freedom from Fear, but also Freedom from Want.
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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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 world got side-tracked from development issues during the post-9/11 crisis period.
Jeffrey Sachs
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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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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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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
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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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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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Russia has gone through eight years of continuing economic pain.
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.
Jeffrey Sachs
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My concern is not that there are too many sweatshops, but that there are too few.
Jeffrey Sachs
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Devaluations are never easy.
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