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The runs started in Thailand after the IMF intervened in such a dramatic way. Then the IMF came to Indonesia.

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
Runs
Dramatic
Started
Came
Imf
Running
Intervened
Way
Thai
Thailand
Indonesia

More quotes by 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.
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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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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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History is written by the rich, and so the poor get blamed for everything.
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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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Globalization was a deep trend pushed by technology and right ideas, as much as anything else.
Jeffrey Sachs
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Russia has gone through eight years of continuing economic pain.
Jeffrey Sachs
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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.
Jeffrey Sachs
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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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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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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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Business often does a good job supporting communities: the arts, universities, and scientific enterprises... But that philosophy has rarely reached poor countries. Even businesses that are enlightened in their home bases see Africa, Latin America, and parts of Asia as places to exploit natural resources or use cheap labor.
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.
Jeffrey Sachs
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Devaluations are never easy.
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
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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.
Jeffrey Sachs
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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
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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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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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My concern is not that there are too many sweatshops, but that there are too few.
Jeffrey Sachs