Jeffrey Sachs Quotes

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Jeffrey Sachs

Profession : Economist

Birth : November 5, 1954

We've taken the view that if the rest of the world would democratize and create market economies, that would spread the benefits of prosperity around the world, and that it would enhance our own prosperity, and our own stability and security, as well.

Jeffrey Sachs

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

The essence of Africa's crisis is fundamentally its extreme poverty.

Jeffrey Sachs

Russia has gone through eight years of continuing economic pain.

Jeffrey Sachs

The debts are unaffordable. If they won't cancel the debts I would suggest obstruction; you do it yourselves.

Jeffrey Sachs

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

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

Unfortunately, the real focus in this country has not been on the rest of the world. It's been on our own issues and our own problems. Fair enough. But it means that our simple hopes that everything will just work out abroad aren't really coming to pass.

Jeffrey Sachs

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 they'd borrow a bit more and do even better.

Jeffrey Sachs

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

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.

Jeffrey Sachs

We were proposing, in a sense, that the rest of the world be made safe for American ideas, as they adopted intellectual property rights that gave patent protection to our very innovative economy.

Jeffrey Sachs

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.

Jeffrey Sachs

In the early 1990s, when a lot of the developing world opened up to international capital flows... they ended up in very good long-term projects, but projects that weren't going to pay off for five or 10 or 20 years.

Jeffrey Sachs

If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days.

Jeffrey Sachs

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

Jeffrey Sachs

I think the IMF helped to detonate the Indonesian crisis.

Jeffrey Sachs

We, being the Western world, wouldn't let Russia off the hook on debt. So there were demands on debt servicing in the early days until they ran out of reserves. There was no real aid program, just a fictional aid program.

Jeffrey Sachs

Devaluations are never easy.

Jeffrey Sachs

The longer you wait, the less fun. If you wait until the bitter end, the whole economy can be destroyed.

Jeffrey Sachs