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My concern is not that there are too many sweatshops, but that there are too few. - Jeffrey Sachs Quotes
My concern is not that there are too many sweatshops, but that there are too few.
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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.
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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 key to ending extreme poverty is to enable the poorest of the poor to get their foot on the ladder of development. The ladder of development hovers overhead, and the poorest of the poor are stuck beneath it. They lack the minimum amount of capital necessary to get a foothold, and therefore need a boost up to the first rung.
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We need to defend the interests of those whom we've never met and never will. - Jeffrey Sachs Quotes
We need to defend the interests of those whom we've never met and never will.
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Our challenge, our generation's unique challenge, is learning to live peacefully and sustainably in an extraordinarily crowded world. Our planet is crowded to an unprecendented degree. It is bursting at the seams. It's bursting at the seams in human terms, in economic terms, and in ecological terms
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I think the IMF helped to detonate the Indonesian crisis. - Jeffrey Sachs Quotes
I think the IMF helped to detonate the Indonesian crisis.
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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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History is written by the rich, and so the poor get blamed for everything.
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Every morning our newspapers could read, 'More than 20,000 people perished yesterday of extreme poverty.' How? The poor die in hospital wards that lack drugs, in villages that lack antimalarial bed nets, in houses that lack safe drinking water. They die namelessly, without public comment. Sadly, sad stories rarely get written.
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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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Without restoring an ethos of social responsibility, there can be no meaningful and sustained economic recovery.
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Extreme poverty is the best breeding ground on earth for disease, political instability, and terrorism.
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Obama is already setting a new historic course by reorienting the economy from private consumption to public investments... Rightwing pundits bemoan the evident intention of Obama and team to 'tell us what kind of car to drive'. Yet that is exactly what they intend to do...and rightly so. Free-market ideology is an anachronism in an era of climate change.
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Deep down, if we really accept that their lives - African lives - are equal to ours, we would all be doing more to put the fire out. Its an uncomfortable truth.
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Globalization was a deep trend pushed by technology and right ideas, as much as anything else.
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Roosevelt talked not only about Freedom from Fear, but also Freedom from Want.
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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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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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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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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.
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The essence of Africa's crises is fundamentally it's extreme poverty.
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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.
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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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It's not so unusual to run out of someone else's currency.
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Despite a decade of criticism and budget cuts, the specialised UN agencies have far more expertise and hands-on experience than any other organisations in the world.
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Russia has gone through eight years of continuing economic pain.
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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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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.
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The longer you wait, the less fun. If you wait until the bitter end, the whole economy can be destroyed.
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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.
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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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The idea that the UN system could provide real leadership on the great development challenges will strain credulity in some quarters.
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The essence of Africa's crisis is fundamentally its extreme poverty and therefore its inability to mobilize out of its own resources even the barest of minimum resources to address any of the public health crises that Africa faces.
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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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The aspiration of society is the flourishing of its members, this report gives evidence on how to achieve societal well?being. It's not by money alone, but also by fairness, honesty, trust and good health.
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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.
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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 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.
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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.
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The time has come to end this charade. The debts are unaffordable. If they won't cancel the debts I would suggest obstruction; you do it yourselves. Africa should say: 'thank you very much but we need this money to meet the needs of children who are dying right now so we will put the debt servicing payments into urgent social investment in health, education, drinking water, control of AIDS and other needs.'
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White House and State Department foreign-policy experts are overwhelmingly directed towards military and diplomatic issues, not development issues.
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Soil mapping is one of the pillars to the challenge of sustainable development
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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.
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All of the incessant debate about development assistance, and whether the rich are doing enough to help the poor, actually concerns less than 1% of rich world income. The effort required of the rich is indeed so slight that to do less is to announce brazenly to a large part of the world: 'You count for nothing.' We should not be surprised, then, if in later years the rich reap the whirlwind of that heartless response.
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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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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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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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Everybody needs to understand that policies are going to change to make it unprofitable if you wreck the planet, those companies that continue exploring and developing fossil fuel resources for which there is no safe use are going to pay a very heavy cost for that.
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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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Devaluations are never easy.
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We are not at war (except with our own demons).
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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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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.
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Tax the rich. End the wars. Break the power of lobbies in Washington. These are the demands of Occupy Wall Street. They are very important. The US corporations dominate Washington. The big oil companies, Wall Street banks and the military-industrial complex - they rule this country and their influence and power has to be broken.
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It's not an accident that the U.S. ranks lowest of all major donor countries in the world - that is the share of our income that goes to development aid. Americans will ask whether, because were so generous privately, that makes up the difference. But it doesn't. We still rank far below other countries.
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I believe myself that there's a great deal more interest and engagement among Americans than our politicians recognize.
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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 world got side-tracked from development issues during the post-9/11 crisis period.
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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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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.
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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.
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It's not so unusual to run out of someone else's currency.
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Let's start fresh with Russia on some real help and some real reform.
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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.
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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.
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The debts are unaffordable. If they won't cancel the debts I would suggest obstruction; you do it yourselves.
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The essence of Africa's crisis is fundamentally its extreme poverty.
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Donald Trump’s 'America First' foreign policy represents a new and vulgar strain of American exceptionalism. It proudly proclaims its intention to maintain U.S. military dominance as the core pillar of U.S. foreign policy.
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...four very powerful corporate lobbies have repeatedly come out on top and turned our democracy into what might more accurately be called a corporatocracy.'
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The vast differences in power contributed to faulty social theories of these differences that are still with us today. When a society is economically dominant, it is easy for its members to assume that such dominance reflects a deeper superiority-whether religious, racial, genetic, cultural, or institutional-rather than an accident of timing or geography.
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...History is written by the rich, and so the poor get blamed for everything.'
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Von Hayek was wrong. In strong and vibrant democracies, a generous social-welfare state is not a road to serfdom but rather to fairness, economic equality and international competitiveness.
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We need... a much more competent and honest government. Economic reform and political reform must go hand in hand. Without the one there cannot be the other.
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