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Jeffrey Sachs Quotes


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Jeffrey Sachs
November 5, 1954 -
Nationality: American
Category: Economist
Subcategory: American Economist

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.

   

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

   

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.

   

Russia has gone through eight years of continuing economic pain.

   

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.

   

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.

   

Let's start fresh with Russia on some real help and some real reform.

   

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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