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Russia has gone through eight years of continuing economic pain.

Jeffrey Sachs

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Jeffrey Sachs
Age: 69
Born: 1954
Born: November 5
Economist
University Teacher
Writer
Detroit
Michigan
Jeffrey David Sachs
Jeffrey D. Sachs
Pain
Years
Continuing
Russia
Eight
Economic
Gone

More quotes by Jeffrey Sachs

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History is written by the rich, and so the poor get blamed for everything.
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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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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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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.
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Devaluations are never easy.
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My concern is not that there are too many sweatshops, but that there are too few.
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The essence of Africa's crises is fundamentally it's extreme poverty.
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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.
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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.
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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 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.
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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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Let the future say of our generation that we sent forth mighty currents of hope and that we worked together to heal the world.
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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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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 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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Roosevelt talked not only about Freedom from Fear, but also Freedom from Want.
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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.
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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