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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
Indonesia
Runs
Dramatic
Started
Came
Imf
Running
Intervened
Way
Thai
Thailand

More quotes by 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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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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It's not so unusual to run out of someone else's currency.
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The essence of Africa's crises is fundamentally it's extreme poverty.
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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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History is written by the rich, and so the poor get blamed for everything.
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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Roosevelt talked not only about Freedom from Fear, but also Freedom from Want.
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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 world got side-tracked from development issues during the post-9/11 crisis period.
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.
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Russia has gone through eight years of continuing economic pain.
Jeffrey Sachs
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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.
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.
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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.
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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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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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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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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