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About Jeffrey D. Sachs
Professor Sachs was the co-recipient of the 2015 Blue Planet Prize, the leading global prize for environmental leadership. He was twice named among Time magazine's 100 most influential world leaders and has received 28 honorary degrees. The New York Times called Sachs "probably the most important economist in the world," and Time magazine called Sachs "the world's best-known economist." A survey by The Economist ranked Sachs as among the three most influential living economists.
Professor Sachs serves as the Director of the Center for Sustainable Development at Columbia University. He is University Professor at Columbia University, the university's highest academic rank. Sachs was Director of the Earth Institute from 2002 to 2016.
Sachs has authored and edited numerous books, including three New York Times bestsellers, The End of Poverty (2005), Common Wealth: Economics for a Crowded Planet (2008), and The Price of Civilization (2011). Other books include To Move the World: JFK's Quest for Peace (2013), The Age of Sustainable Development (2015), Building the New American Economy: Smart, Fair & Sustainable (2017), and most recently A New Foreign Policy: Beyond American Exceptionalism (2018).
Prior to joining Columbia, Sachs spent over twenty years as a professor at Harvard University, most recently as the Galen L. Stone Professor of International Trade. A native of Detroit, Michigan, Sachs received his B.A., M.A., and Ph.D. degrees at Harvard.
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Today’s most urgent problems are fundamentally global. They require nothing less than concerted, planetwide action if we are to secure a long-term future. But humanity’s story has always been on a global scale. In this book, Jeffrey D. Sachs, renowned economist and expert on sustainable development, turns to world history to shed light on how we can meet the challenges and opportunities of the twenty-first century.
Sachs takes readers through a series of seven distinct waves of technological and institutional change, starting with the original settling of the planet by early modern humans through long-distance migration and ending with reflections on today’s globalization. Along the way, he considers how the interplay of geography, technology, and institutions influenced the Neolithic revolution; the role of the horse in the emergence of empires; the spread of large land-based empires in the classical age; the rise of global empires after the opening of sea routes from Europe to Asia and the Americas; and the industrial age. The dynamics of these past waves, Sachs demonstrates, offer fresh perspective on the ongoing processes taking place in our own time—a globalization based on digital technologies. Sachs emphasizes the need for new methods of international governance and cooperation to prevent conflicts and to achieve economic, social, and environmental objectives aligned with sustainable development. The Ages of Globalization is a vital book for all readers aiming to make sense of our rapidly changing world.
Hailed by Time as 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 more 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 10th 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 2030, the United Nations' target date for ending extreme poverty, offering new insights and recommendations.
The American Century began in 1941 and ended on January 20, 2017. While the United States remains a military giant and is still an economic powerhouse, it no longer dominates the world economy or geopolitics as it once did. The current turn toward nationalism and “America first” unilateralism in foreign policy will not make America great. Instead, it represents the abdication of our responsibilities in the face of severe environmental threats, political upheaval, mass migration, and other global challenges.
In this incisive and forceful book, Jeffrey D. Sachs provides the blueprint for a new foreign policy that embraces global cooperation, international law, and aspirations for worldwide prosperity—not nationalism and gauzy dreams of past glory. He argues that America’s approach to the world must shift from military might and wars of choice to a commitment to shared objectives of sustainable development. Our pursuit of primacy has embroiled us in unwise and unwinnable wars, and it is time to shift from making war to making peace and time to embrace the opportunities that international cooperation offers. A New Foreign Policy explores both the danger of the “America first” mindset and the possibilities for a new way forward, proposing timely and achievable plans to foster global economic growth, reconfigure the United Nations for the twenty-first century, and build a multipolar world that is prosperous, peaceful, fair, and resilient.
“Succinct, humane, and politically astute . . . Sachs lays out a detailed path to reform, regulation, and recovery.”—The American Prospect
In this forceful and impassioned book, Jeffrey D. Sachs offers a searing and incisive diagnosis of our country’s economic ills, and an urgent call for Americans to restore the core virtues of fairness, honesty, and foresight as the foundations of national prosperity. Sachs finds that both political parties—and many leading economists—have missed the big picture, profoundly underestimating globalization’s long-term effects and offering shortsighted solutions. He describes a political system that is beholden to big donors and influential lobbyists and a consumption-driven culture that suffers shortfalls of social trust and compassion. He bids readers to reclaim the virtues of good citizenship and mindfulness toward the economy and each one another. Most important, he urges each of us to accept the price of civilization, so that together we restore America to its great promise. The Price of Civilization is a masterly road map for prosperity, founded on America’s deepest values and on a rigorous understanding of the twenty-first-century world economy.
With a new Preface by the author.
“Half a century ago J. K. Galbraith’s The Affluent Society changed the political consciousness of a generation. . . . Jeffrey Sachs’s new book is a landmark in this great and essentially American tradition. . . . Sachs by his life and his writing goes far to restore one’s wavering faith in the informing inspiration of the post-1945 new dawn, faith in economics, faith in America and faith in humanity.”—The Spectator
“Stimulating . . . a must-read for every concerned citizen . . . [a] hard-hitting brief for a humane economy.”—Publishers Weekly (starred review)
“Sachs’s book is loaded with information and anecdotes [and] proposals that would make it harder for the powerful to rig the system for their benefit.”—Scientific American
“An eloquent call for American civic renewal based on moderation, compassion, and cooperation across the lines of class, ethnicity, and ideology.”—CNN Money
“Compelling . . . This is an important book.”—Financial Times
In this passionate and powerful book—part manifesto, part plan of action—the renowned economist Jeffrey D. Sachs offers a practical strategy to move America, seemingly more divided than ever, toward a new consensus: sustainable development. Sustainable development is a holistic approach that emphasizes economic, social, and environmental objectives in shaping policy. In focusing too much on economic growth, the United States has neglected rising economic inequality and dire environmental threats. Now, even growth is imperiled.
Sachs explores issues that have captivated the nation and political debate, including infrastructure, trade deals, energy policy, the proper size and role of government, the national debt, and income inequality. Not only does he provide illuminating and accessible explanations of the forces at work in each case, but he also presents specific policy solutions. His argument rises above the pessimism born of political paralysis, economic stagnation, and partisanship to devise a brighter way forward, achievable both individually and collectively. In Building the New American Economy, Sachs shows how the United States can find a path to renewed economic progress that is fair and environmentally sustainable.
The wealth derived from natural resources can have a tremendous impact on the economics and politics of producing countries. In the last quarter century, we have seen the surprising and sobering consequences of this wealth, producing what is now known as the "resource curse." Countries with large endowments of natural resources, such as oil and gas, often do worse than their poorer neighbors. Their resource wealth frequently leads to lower growth rates, greater volatility, more corruption, and, in extreme cases, devastating civil wars.
In this volume, leading economists, lawyers, and political scientists address the fundamental channels generated by this wealth and examine the major decisions a country must make when faced with an abundance of a natural resource. They identify such problems as asymmetric bargaining power, limited access to information, the failure to engage in long-term planning, weak institutional structures, and missing mechanisms of accountability. They also provide a series of solutions, including recommendations for contracting with oil companies and allocating revenue; guidelines for negotiators; models for optimal auctions; and strategies to strengthen state-society linkages and public accountability.
The contributors show that solutions to the resource curse do exist; yet, institutional innovations are necessary to align the incentives of key domestic and international actors, and this requires fundamental political changes and much greater levels of transparency than currently exist. It is becoming increasingly clear that past policies have not provided the benefits they promised. Escaping the Resource Curse lays out a path for radically improving the management of the world's natural resources.
The last great campaign of John F. Kennedy’s life was not the battle for reelection he did not live to wage, but the struggle for a sustainable peace with the Soviet Union. To Move the World recalls the extraordinary days from October 1962 to September 1963, when JFK marshaled the power of oratory and his remarkable political skills to establish more peaceful relations with the Soviet Union and a dramatic slowdown in the proliferation of nuclear arms.
Kennedy and his Soviet counterpart, Nikita Khrushchev, led their nations during the Cuban Missile Crisis, when the two superpowers came eyeball to eyeball at the nuclear abyss. This near-death experience shook both leaders deeply. Jeffrey D. Sachs shows how Kennedy emerged from the Missile crisis with the determination and prodigious skills to forge a new and less threatening direction for the world. Together, he and Khrushchev would pull the world away from the nuclear precipice, charting a path for future peacemakers to follow.
During his final year in office, Kennedy gave a series of speeches in which he pushed back against the momentum of the Cold War to persuade the world that peace with the Soviets was possible. The oratorical high point came on June 10, 1963, when Kennedy delivered the most important foreign policy speech of the modern presidency. He argued against the prevailing pessimism that viewed humanity as doomed by forces beyond its control. Mankind, argued Kennedy, could bring a new peace into reality through a bold vision combined with concrete and practical measures.
Achieving the first of those measures in the summer of 1963, the Partial Nuclear Test Ban Treaty, required more than just speechmaking, however. Kennedy had to use his great gifts of persuasion on multiple fronts—with fractious allies, hawkish Republican congressmen, dubious members of his own administration, and the American and world public—to persuade a skeptical world that cooperation between the superpowers was realistic and necessary. Sachs shows how Kennedy campaigned for his vision and opened the eyes of the American people and the world to the possibilities of peace.
Featuring the full text of JFK’s speeches from this period, as well as striking photographs, To Move the World gives us a startlingly fresh perspective on Kennedy’s presidency and a model for strong leadership and problem solving in our time.
Praise for To Move the World
“Rife with lessons for the current administration . . . We cannot know how many more steps might have been taken under Kennedy’s leadership, but To Move the World urges us to continue on the journey.”—Chicago Tribune
“The messages in these four speeches seem all too pertinent today.”—Publishers Weekly
Jeffrey D. Sachs is one of the world's most perceptive and original analysts of global development. In this major new work he presents a compelling and practical framework for how global citizens can use a holistic way forward to address the seemingly intractable worldwide problems of persistent extreme poverty, environmental degradation, and political-economic injustice: sustainable development.
Sachs offers readers, students, activists, environmentalists, and policy makers the tools, metrics, and practical pathways they need to achieve Sustainable Development Goals. Far more than a rhetorical exercise, this book is designed to inform, inspire, and spur action. Based on Sachs's twelve years as director of the Earth Institute at Columbia University, his thirteen years advising the United Nations secretary-general on the Millennium Development Goals, and his recent presentation of these ideas in a popular online course, The Age of Sustainable Development is a landmark publication and clarion call for all who care about our planet and global justice.
This project on developing country debt, undertaken by the National Bureau of Economic Research, provides a detailed analysis of the ongoing developing country debt crisis. The project focuses on the middle-income developing countries, particularly those in Latin America and East Asia, although many lessons of the study should apply as well to other, poorer debtor countries. The project analyzes the crisis from two perspectives, that of the international financial system as a whole (volume 1) and that of individual debtor countries (volumes 2 and 3).
This third volume contains lengthy and detailed case studies of four very different Asian countries—Turkey, Indonesia, Korea, and the Philippines.
an insider's analysis of the political events and economic strategy behind the country's swift transition to capitalism and democracy
In Poland's jump to the Market Economy, Jeffrey Sachs provides an insider's analysis of the political events and economic strategy behind the country's swift transition to capitalism and democracy. The greatest challenges to economic reform, Sachs points out, have been primarily political in nature, rather than social or even economic. Sachs reviews Poland's striking progress since the start of the economic reforms three years ago, which he helped to design. He discusses the gains - more than half of employment and GDP is now in the private sector, exports to Western Europe have more than doubled, and economic growth and confidence are returning - as well as the serious problems that remain - high unemployment, a chronic fiscal deficit, the slow pace of privatization of large industrial enterprises, and the fragility of multiparty coalition governments.Sachs points out that leadership is crucial to economic reform in a newly democratic setting, as is the West's timely economic assistance. In Poland's case, the Zloty Stabilization Fund and the two-stage debt cancellation have been essential to keeping the reform program on track. Poland's example has had a powerful impact on reforms throughout the region, including the former Soviet Union, and has done much to dispel the fear that the citizens themselves, allegedly made lazy by decades of socialism, would reject the competitive rigors of a market economy. Overall, Sachs remains firmly convinced of the potential for successful economic reforms in Poland and the rest of the region.
Financial Systems at the Crossroads: Lessons for China is written by leading financial experts to study the causes of financial disasters internationally. The research team is drawn from the global research networks of three leading universities: the Antai College of Economics and Management at Shanghai Jiao Tong University, the School of Economics at Fudan University, and the Earth Institute at Columbia University.
This review volume identifies the regulatory framework to guide the emergence of efficient financial institutions that are prudent; and to specify the required institutional mechanisms to prevent and resolve systemic collapse. It examines the specific circumstances of China to come up with a comprehensive agenda to reform China's financial sector. It provides in-depth analysis of China's financial industry to show its future evolution and offers lessons for developing a financial system that is efficient, innovative and resilient.Contents:
- Analytical Overview:
- Mobilizing China's Financial Sector Efficiently and Safely for Sustaining Economic Transformation and Strengthening Global Financial Stability (Yingli Pan, Jeffrey D Sachs, Wing Thye Woo and John Qi Zhu)
- Understanding the Important Lessons from the International Experience:
- Wall Street Lawlessness (Jeffrey D Sachs)
- Systemic Lack of Prudence in Wealthy Nations: Avoiding the Dark Side of Financial Development (Peter Boone and Simon Johnson)
- Lessons from the Financial Liberalization in the Nordic Countries in the 1980s (Seppo Honkapohja)
- Asian Financial Markets and Financial Internationalization in China (Kiyohiko G Nishimura)
- Tokyo's Ultimately Failed Bid for First Tier International Financial Centre Status: Why Did It Fall Short and What are the Lessons for Shanghai? (Huw McKay)
- Designing the Right Financial System for China:
- The Great Accommodation: Chinese Central Banking in the New Millennium (Junhui Qian and Wing Thye Woo)
- The Structural Friction in China's Banking System: Causes, Measurement and Solutions (Hongzhong Liu and Tai Qin)
- Credit Rationing, Bank Bailouts, and the Deleterious Impact of Credit: Evidence from China (Jean Louis Arcand)
- The Options for Reforming the Renminbi Exchange Rate Regime (Xinru Wu, Yingli Pan, Zhichao Zhang, Jing Nie and Si Zhou)
- The Internationalization of the Renminbi is in Accordance with China's National Interests and Global Responsibilities (Yingli Pan, Yingfeng Xu and Jun Wu)
- Reforming China's Rural Financial Market (Xi Zhu)
Readership: Graduate students and researchers in financial industry, financial analysts and China-watchers.