Jeffrey Sachs Quotes About Economy
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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 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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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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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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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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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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