[ Read ] ➭ The End of Poverty Author Jeffrey D. Sachs – Pcusati.info

[ Read ] ➭ The End of Poverty Author Jeffrey D. Sachs – Pcusati.info You, being a smart person who is up on contemporary debates in economics and development and or are a reader of Vanity Fair, probably already know all about Sachs and this book.Sachs made his name giving shock therapy to various third world economies He recommended they jack up interest rates, and pushed them towards neo liberal free market structures His career hit a bit of a bad patch when he was associated with the economic meltdown of the former Soviet Socialist Republic This book is hi You, being a smart person who is up on contemporary debates in economics and development and or are a reader of Vanity Fair, probably already know all about Sachs and this book.Sachs made his name giving shock therapy to various third world economies He recommended they jack up interest rates, and pushed them towards neo liberal free market structures His career hit a bit of a bad patch when he was associated with the economic meltdown of the former Soviet Socialist Republic This book is his recommendations for development in Africa Sach s ideas at base a pretty simple Sub Saharan Africa needs lots and lotsaid This aid should be put to use curing easily defeatable diseases and establishing local agrarian and eventually manufacturing economies, and right wing type who say thataid won t fix the problem are wrong That s about it I think Sach s has this all about half right More aid is a good idea, but alone, and in the style he suggests, I doubt it will lead to an end to poverty Paul Collier snuanced book The Bottom Billion, which I just finished, and will review soon, gives a better battle plan for dealing with seriously fucked countries Sach s plan is a little too throw money at the problem for me.Still, this book is worth a read If you re going to talk about world poverty now a days and I tend to talk about world poverty a lot , you going to have to know what Sach is up to He is by far the biggest name in the field He may not always be right, but he s a player that you need to know about What do Bono, and countless other celebrities have in common with the author A They ve always wanted to be celebrities What is different A The celebs actually think that the world can be rid of poverty and misery and vice Are you honestly going to tell me that one of the world s most influential economists ACTUALLY believes that poverty can be banished or even meaningfully reduced Not a chance Not with Africa s population growth rate Sachs is selling panic again to promote himself and i What do Bono, and countless other celebrities have in common with the author A They ve always wanted to be celebrities What is different A The celebs actually think that the world can be rid of poverty and misery and vice Are you honestly going to tell me that one of the world s most influential economists ACTUALLY believes that poverty can be banished or even meaningfully reduced Not a chance Not with Africa s population growth rate Sachs is selling panic again to promote himself and it s really beginning to grate my nerves The entire book is a formula to get people involved i.e spending money a happy percentage of which Sachs and others like him will collect The truth is that despite all the self important boo hooing about how a child dies every 3 seconds in Africa, no one ever mentions that 12 were just born and 8 survived which is why the continent has a growth rate of 3% and will harbor 1.2 billion starving souls in next 23 years People who, when China and India become as rich as Japan, will be happy to stitch together our soccer balls I expected to give this book one star, but I could get behind enough of Sachs ideas to give it two Sachs opposes IMF WB austerity measures to promote development, and defends health care, education, and other services as public goods He advocates taxing the rich and getting the world s wealthiest people to invest their money in the world s poorest people He opposes Bush s excessive military spending because he thinks US and global security areeffectively guaranteed by cutting down glob I expected to give this book one star, but I could get behind enough of Sachs ideas to give it two Sachs opposes IMF WB austerity measures to promote development, and defends health care, education, and other services as public goods He advocates taxing the rich and getting the world s wealthiest people to invest their money in the world s poorest people He opposes Bush s excessive military spending because he thinks US and global security areeffectively guaranteed by cutting down global poverty He emphasizes the need to understand and act on the vast range of factors that might contribute to poverty in specific countries and regions But predictably, Sachs, guided by Enlightenment and Adam Smith type rationalism and market logic, is misguided on the basic point of what constitute wealth, poverty, and development e.g., for him, private property is a precondition for ending poverty and inequality He also drastically downplays colonialism s role in global inequality, posing it as purely a matter of economic relations Overall, there are some decent ideas here, but Sachs isn t changing the terms of the development debate Poor Jeffrey Sachs He reminds me of the autistic kid in elementary school who isn t sure why no one likes reading the marginalia of comic books as much as he does After all, the other kids like Spiderman too So why doesn t everyone else want to do the cross referencing I may have been awfully close to being that kid Jeffrey Sachs basic perspective is that all we have to do to solve poverty is pump aid money in and engage in debt relief Let s ignore, for a moment, the fact that he was larg Poor Jeffrey Sachs He reminds me of the autistic kid in elementary school who isn t sure why no one likes reading the marginalia of comic books as much as he does After all, the other kids like Spiderman too So why doesn t everyone else want to do the cross referencing I may have been awfully close to being that kid Jeffrey Sachs basic perspective is that all we have to do to solve poverty is pump aid money in and engage in debt relief Let s ignore, for a moment, the fact that he was largely responsible intellectually, and to a certain extent in practice for disastrous shock programs in Eastern Europe that threw millions into sudden poverty, provided a fertile ground for the rise of crony capitalists of the worst order, and largely fueled the rise of neo fascism, but let s look at his starry eyed worldview, a world in which if enough nice people do nice things, everything will be nicer.But he ignores everything that would prevent this from happening, because he s, I m guessing a very personable head in the clouds idealist He s right to criticize cultural explanations of poverty, and right to criticize the IMF and World Bank for keeping countries poor And yet he ignores the brutal realities of extractive economies, the ways in which foreign capital colludes with militaries and gleefully ignores local laws, and the ways in which the aid machine pats donors backs without making a real difference The Landmark Exploration Of Economic Prosperity And How The World Can Escape From Extreme Poverty For The World S Poorest Citizens, From One Of The World S Most Renowned Economists Hailed By Timeas One Of The World S Hundred Most Influential People, Jeffrey D Sachs Is Renowned For His Work Around The Globe Advising Economies In Crisis Now A Classic Of Its Genre, The End Of Poverty Distills Than Thirty Years Of Experience To Offer A Uniquely Informed Vision Of The Steps That Can Transform Impoverished Countries Into Prosperous Ones Marrying Vivid Storytelling With Rigorous Analysis, Sachs Lays Out A Clear Conceptual Map Of The World Economy Explaining His Own Work In Bolivia, Russia, India, China, And Africa, He Offers An Integrated Set Of Solutions To The Interwoven Economic, Political, Environmental, And Social Problems That Challenge The World S Poorest Countries Ten Years After Its Initial Publication, The End Of Poverty Remains An Indispensible And Influential Work In This Th Anniversary Edition, Sachs Presents An Extensive New Foreword Assessing The Progress Of The Past Decade, The Work That Remains To Be Done, And How Each Of Us Can Help He Also Looks Ahead Across The Next Fifteen Years To , The United Nations Target Date For Ending Extreme Poverty, Offering New Insights And Recommendations A well written book In my opinion it can not be read without also reading William Easterly s book The Quest For Growth The two scholors are at war with each other Their debate is all theinteresting when you read the back and forth op ed pieces they have written in the Washington Post I tend to agree with Easterly Sachs means well, but he is very full of himself His book isa tribute to what he can do, and other economists can t than a good debate on the issues Flying Bono aro A well written book In my opinion it can not be read without also reading William Easterly s book The Quest For Growth The two scholors are at war with each other Their debate is all theinteresting when you read the back and forth op ed pieces they have written in the Washington Post I tend to agree with Easterly Sachs means well, but he is very full of himself His book isa tribute to what he can do, and other economists can t than a good debate on the issues Flying Bono around makes for nice PR but it doesn t address the serious economic issues problems of international growth Easterly takes a in my opinion less rigorous andanecdotal approach, call it the softer side, to growth He offers answers which everyone wants to hear, but which don t always bear fruit when fully analyzed Unfortunately, it is this fluffy side of growth that politicians like to promote They promote it because its easy, because people like to think they are doing something, even if all they are doing is throwing money into a black whole Anyhow, this book makes for good reading, and I recommend it to everyone interested in economic growth, the hot topic of macroeconomic research these days Just don t read it in isolation Sachs visited Malawi a few times in the 2000s, and met the country s vice president, a remarkably fine individual, a dignified, eloquent, a popular figure in what is against all odds a multiparty democracy He came to know Malawi relatively well and saw people dying of AIDS, depleted soil, no medicines in the hospital, children stunted from malnutrition Paul Theroux visited the country in 2001 unlike Sachs, he speaks Chichewa, the Bantu language widely spoken in Malawi, having worked in wh Sachs visited Malawi a few times in the 2000s, and met the country s vice president, a remarkably fine individual, a dignified, eloquent, a popular figure in what is against all odds a multiparty democracy He came to know Malawi relatively well and saw people dying of AIDS, depleted soil, no medicines in the hospital, children stunted from malnutrition Paul Theroux visited the country in 2001 unlike Sachs, he speaks Chichewa, the Bantu language widely spoken in Malawi, having worked in what was then called Nyasaland in the 1960s He read that on the day the minister of finance announces his financial austerity plan, it is revealed that thirty eight Mercedes Benzes have just been ordered from Germany, saw ruins of the shops formerly owned by the Indians expelled by dictator Hastings Banda, heard a British nurse complain that African doctors wouldn t work for what she and her doctor husband are paid, and saw his own novel Jungle Lovers, which is set in Malawi, on the index of prohibited books, alongside works by Orwell, Nabokov and Rushdie Theroux is a novelist, and Sachs is an economist a novelist would say that malnourished children by themselves do not make a good story, but malnourished children juxtaposed with the ban on Nabokov do an economist would say that the index of prohibited books is irrelevant to the problem of soil depletion Yet it seems to me that Sachs came to know Malawi not at all compared to Theroux How well did Sachs come to know the other countries he advised on economic reform, most famously Russia One of Cambridge Sustainability s Top 50 Books for Sustainability, as voted for by our alumni network of over 3,000 senior leaders from around the world To find out , click here The End of Poverty argues that extreme poverty, defined by the World Bank as having an income of less than 1 a day, is the poverty that kills However, it is almost entirely preventable and solvable as has been shown in developed countries and many developing countries through the provision of basic services in One of Cambridge Sustainability s Top 50 Books for Sustainability, as voted for by our alumni network of over 3,000 senior leaders from around the world To find out , click here The End of Poverty argues that extreme poverty, defined by the World Bank as having an income of less than 1 a day, is the poverty that kills However, it is almost entirely preventable and solvable as has been shown in developed countries and many developing countries through the provision of basic services in water, sanitation, healthcare and food Hence, the end of poverty is not only possible, but also morally imperative.Sachs challenges the wholly pessimistic view of poverty, pointing out that five sixths of the world have excaped extreme poverty due to the scientific and industrial revolution, which has raised living standards and life expectancy This shows that development does work, and that the remaining one billion poor are not inevitably condemned to remain destitute Another book written by a rich caucasian on how to solve Third World problems Sachs floats a lot of economic theories and Bono throws in his bit as well Understandably so, they ve never walked a mile in a poor person s shoes Some things are just as nature intended We cannot all be wealthy CEOs, who ll do the ground work Intervention doesharm than good, most of the time Some relief schemes are built on greed and filth Just look at USaid Closer to home, look at the giant retail Another book written by a rich caucasian on how to solve Third World problems Sachs floats a lot of economic theories and Bono throws in his bit as well Understandably so, they ve never walked a mile in a poor person s shoes Some things are just as nature intended We cannot all be wealthy CEOs, who ll do the ground work Intervention doesharm than good, most of the time Some relief schemes are built on greed and filth Just look at USaid Closer to home, look at the giant retailers We need to understand how each country is built first before we offer tried and tested solutions Two industries keep a country going farming and manufacturing Stop outsourcing the manufacturing to the Chinese Build factories here at home Empower the citizens through transfer of skills Enough said Loathed the book Sachs is an imperialist and snotty some excerpts Equality is a very big idea, connected to freedom, but an idea that doesn t come for free If we re serious, we have to be prepared to pay the price Some people will say we can t afford to do it I disagree I think we can t afford not to do it.When the preconditions of basic infrastructure roads, power, and ports and human capital health and education are in place, markets are powerful engines of development Without those preconditions, markets can cruelly bypass large pa some excerpts Equality is a very big idea, connected to freedom, but an idea that doesn t come for free If we re serious, we have to be prepared to pay the price Some people will say we can t afford to do it I disagree I think we can t afford not to do it.When the preconditions of basic infrastructure roads, power, and ports and human capital health and education are in place, markets are powerful engines of development Without those preconditions, markets can cruelly bypass large parts of the world, leaving them impoverished and suffering without respite.One of the ironies of the recent success of India and China is the fear that has engulfed the United States that success in these two countries comes at the expense of the United States These fears are fundamentally wrong and, even worse, dangerous They are wrong because the world is not a zero sum struggle in which one country s gain is another s loss, but is rather a positive sum opportunity in which improving technologies and skills can raise living standards around the world.The greatest tragedy of our time is that one sixth of humanity is not even on the development ladder.The crucial puzzle for understanding today s vast inequalities, therefore, is to understand why different regions of the world have grown at different rates during the period of modern economic growth.Technology has been the main force behind the long term increases in income in the rich world, not exploitation of the poor That news is very good indeed because it suggests that all of the world, including today s laggard regions, has a reasonable hope of reaping the benefits of technological advance Economic development is not a zero sum game in which the winnings of some are inevitably mirr red by the losses of others This game is one that everybody can win.First, British society was relatively open, withscope for individual initiative and social mobility than most other societies of the world.Britain s advantages, in summary, were marked by a combination of social, political, and geographical factors British society was relatively free and politically stable Scientific thinking was dynamic Geography enabled Britain to benefit from trade, productive agriculture, and energy resources in vast stocks of coal.Most important, modern economic growth was not only a question ofoutput per person but also change The transition to modern economic growth involved urbanization, changing gender roles, increased social mobility, changing family structure, and increasing specialization.I believe that the single most important reason why prosperity spread, and why it continues to spread, is the transmission of technologies and the ideas underlying them.Economists call ideas nonrival in the sense that one person s use of an idea does not diminish the ability of others to use it as well This is why we can envision a world in which everybody achieves prosperity.Countries are often told that if their debts are cancelled, they will no longer be creditworthy This argument is backward If a country has too much debt, it cannot be creditworthy.Rational investors will not make new loans If debt cancellation is warranted by financial realities, is negotiated in good faith, and the country pursues sound economic policies afterward, then debt cancellation raises creditworthiness rather than reduces it At that point, George Soros helped me to meet a young Soviet reformer, Grigory Yavlinsky, who was a new economic adviser to Mikhail Gorbachev.In November 1991, Boris Yeltsin asked Yegor Gaidar, a leading young Russian economist, to create an economic team Gaidar invited me and David Lipton to a dacha outside of Moscow to work with the new economic team in putting together a reform plan for Russia One recalls Chinese Premier Chou En lai s quip when asked whether the French Revolution had been a success or failure It s too soon to say In China, the European incursion was especially disastrous Great Britain attacked China in 1839 to promote British narcotics trafficking, launching the first of the Opium Wars of 1839 42 to force China to open up to trade Among other things, Britain insisted that China agree to the importation of opium that British commercial interests were producing and trading in India British policy makers were interested in China s vast market, including solving the conundrum of how to pay for Britain s national craze Chinese tea The solution was ingenious and utterly destructive Britain would sell opium to China and earn the wherewithal to purchase China s tea It is as if Colombia waged war with the United States today for the right to sell cocaine.Boring as it may seem, we need to fix the plumbing of international development assistance in order to be effective in helping the well governed countries Aid flows through certain pipes bilateral donors, the World Bank, the regional development banks such as the African Development Bank but these pipes are clogged or simply too narrow, not able to carry a sufficient flow of aid.Redeem the Role of the United States in the World The richest and most powerful country in the world, long the leader and inspiration in democratic ideals, has become the most feared and divisive country in recent years The self professed quest by the United States for unchallenged supremacy and freedom of action has been a disaster, and it poses one of the greatest risks to global stability.The lack of U.S participation in multilateral initiatives has undermined global security and progress toward social justice and environmental protection Its own interests have been undermined by this unilateral turn Forged in the crucible of the Enlightenment, the United States can become a champion of Enlightened Globalization Political action within the United States and from abroad will be needed to restore its role on the road toward global peace and justice Rescue the IMF and the World Bank Our leading international financial institutions are needed to play a decisive role in ending global poverty They have the experience and technical sophistication to play an important role They have the internal motivation of a highly professional staff Yet they have been badly used, indeed misused, as creditor run agencies rather than international institutions representing all of their 182 member governments It is time to restore the international role of these agencies so that they are no longer the handmaidens of creditor governments, but the champions of economic justice and enlightened globalization.Strengthen the United Nations It is no use blaming the UN for the missteps of recent years We have gotten the UN that has been willed by the powerful countries of the world, especially the United States Why are UN agencies less operational than they should be Not because of UN bureaucracy, though that exists, but because the powerful countries are reluctant to cedeauthority to international institutions, fearing reduction of their own freedom of maneuver The UN specialized agencies have a core role to play in the end of poverty It is time to empower the likes of the UN Children s Fund, the World Health Organization, the Food and Agricultural Organization, and many others to do the job on the ground, country by country that they are uniquely qualified to lead, helping the poorest of the poor to use modern science and technology to overcome the trap of poverty Harness Global Science Science has been the key to development from the very start of the industrial revolution, the fulcrum by which reason is translated into technologies of social advance As Condorcet predicted, science has empowered technological advances in food production, health, environmental management, and countless other basic sectors of production and human need Yet science tends to follow market forces as well as to lead them It is not surprising, I have noted repeatedly, that the rich get richer in a continuing cycle of endogenous growth, whereas the poorest of the poor are often left outside of this virtuous circle When their needs are specific by virtue of particular diseases, or crops, or ecological conditions their problems are bypassed by global science Therefore, a special effort of world science, led by global scientific research centers of governments, academia, and industry, must commit specifically to addressing the unmet challenges of the poor Public funding, private philanthropies, and not for profit foundations will have to back these commitments, precisely because market forces alone will not suffice Promote Sustainable Development While targeted investments in health, education, and infrastructure can unlock the trap of extreme poverty, the continuing environmental degradation at local, regional, and planetary scales threatens the long term sustainability of all our social gains Ending extreme poverty can relieve many of the pressures on the environment When impoverished households areproductive on their farms, they face less pressure to cut down neighboring forests in search of new farmland When their children survive with high probability, they have less incentive to maintain very high fertility rates with the attendant downside of rapid population growth Still, even as extreme poverty ends, the environmental degradation related to industrial pollution and the long term climate change associated with massive use of fossil fuels will have to be addressed There are ways to confront these environmental challenges without destroying prosperity for example, by building smarter power plants that capture and dispose of their carbon emissions and by increasing use of renewable energy sources As we invest in ending extreme poverty, we must face the ongoing challenge of investing in the global sustainability of the world s ecosystems

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