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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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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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Africa
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Rarely
Asia
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Cheap
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Resources
Arts
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More quotes by 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.
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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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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.
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Devaluations are never easy.
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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 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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History is written by the rich, and so the poor get blamed for everything.
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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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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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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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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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The world got side-tracked from development issues during the post-9/11 crisis period.
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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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The essence of Africa's crises is fundamentally it's extreme poverty.
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Russia has gone through eight years of continuing economic pain.
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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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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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Roosevelt talked not only about Freedom from Fear, but also Freedom from Want.
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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.
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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.
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