- Nov 07, 2020
Jeffrey Sachs Quotes
Most Famous Jeffrey Sachs Quotes of All Time!
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- Last Updated on May 30, 2021
- Country
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- Nov 07, 2020
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.
- Good
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- Nov 07, 2020
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.
- Globalization
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- Nov 07, 2020
Globalization was a deep trend pushed by technology and right ideas, as much as anything else.
- Early
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- Nov 07, 2020
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.
- Demanded
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- Nov 07, 2020
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.
- Doing
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- Nov 07, 2020
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.
- Dramatic
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- Nov 07, 2020
The runs started in Thailand after the IMF intervened in such a dramatic way. Then the IMF came to Indonesia.
- I Think
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- Nov 07, 2020
I think the IMF helped to detonate the Indonesian crisis.
- Emerged
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- Nov 07, 2020
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.
- Days
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- Nov 07, 2020
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.
- Never
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- Nov 07, 2020
Devaluations are never easy.
- Fun
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- Nov 07, 2020
The longer you wait, the less fun. If you wait until the bitter end, the whole economy can be destroyed.
- Out
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- Nov 07, 2020
It's not so unusual to run out of someone else's currency.
- Democracy
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- Nov 07, 2020
We're going to have to forgive a great deal of the Soviet era debt. There's no question about that. Let's face up to that. We're going to have to put in money if Russia is really going to consolidate a democracy.
- Depression
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- Nov 07, 2020
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.
- Go
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- Nov 07, 2020
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.
- Freedom
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- Nov 07, 2020
Roosevelt talked not only about Freedom from Fear, but also Freedom from Want.
- Franklin Roosevelt
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- Nov 07, 2020
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.
- Neglect
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- Nov 07, 2020
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.
- House
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- Nov 07, 2020
White House and State Department foreign-policy experts are overwhelmingly directed towards military and diplomatic issues, not development issues.
- America
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- Nov 07, 2020
Senior development specialists in the Treasury can be counted on one hand. 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.
- Experience
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- Nov 07, 2020