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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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Jeffrey Sachs
Age: 70
Born: 1954
Born: November 5
Economist
University Teacher
Writer
Detroit
Michigan
Jeffrey David Sachs
Jeffrey D. Sachs
Political
Profound
Soviet
Ends
Countries
Ended
States
Challenge
Ruins
Country
Financial
Union
Every
Drama
Unions
Mercifully
Challenges
Began
Emerged
Economic
Russia
Faced
Social
Historical
Russian

More quotes by 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.
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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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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.
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The essence of Africa's crises is fundamentally it's extreme poverty.
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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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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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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It's not so unusual to run out of someone else's currency.
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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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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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.
Jeffrey Sachs
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Devaluations are never easy.
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 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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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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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 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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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.
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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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