Extreme poverty is the best breeding ground on earth for disease, political instability, and terrorism.
Jeffrey SachsRead
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.
Interpretation
What this quote means
Effective economic management requires both a grasp of fundamental principles and an understanding of the specific context within which an economy operates.
In this quote, Jeffrey Sachs emphasizes the importance of a dual approach to economic policy: one that combines overarching economic principles with a nuanced understanding of particular circumstances. He argues that merely applying hard truths to economic issues is insufficient; instead, economies often require compassionate and thoughtful interventions that reflect their unique challenges and needs. This perspective highlights the necessity of holistic thinking in economics, where empathy and context play crucial roles in fostering stability and growth.
Themes
EconomicsPolicyContextPrinciplesIntervention
In practice
Example use cases
In a speech discussing economic recovery, one might reference this quote to highlight the need for compassionate policies.
More from Jeffrey Sachs
All quotes →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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Soil mapping is one of the pillars to the challenge of sustainable development
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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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Without restoring an ethos of social responsibility, there can be no meaningful and sustained economic recovery.
Jeffrey SachsRead
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 agree that income disparity is the great issue of our time. It is even broader and more difficult than the civil rights issues of the 1960s. The '99 percent' is not just a slogan. The disparity in income has left the middle class with lowered, not rising, income, and the poor unable to reach the middle class.
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THE CORRECTION, when it finally came, was not an overnight bursting of a bubble but a much more gentle letdown, a year-long leakage of value from key financial markets, a contraction too gradual to generate headlines and too predictable to seriously hurt anybody but fools and the working poor.
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Poorly paid labor is inefficient labor, the world over.
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Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.
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