Jeffrey Sachs
Jeffrey Sachs | |
---|---|
International Development | |
School or tradition | Keynesian economics[1] |
Alma mater | Harvard University (BA, MA, PhD) |
Doctoral advisor | Martin Feldstein[2] |
Doctoral students | |
Contributions | Millennium Villages Project |
Website | jeffsachs |
Jeffrey David Sachs (
Sachs is Director of the Center for Sustainable Development at Columbia University and President of the UN Sustainable Development Solutions Network.[8] He is an SDG Advocate for
From 2001 to 2018, Sachs was Special Advisor to the UN Secretary General, and held the same position under the previous UN Secretary-General Ban Ki-moon and prior to 2016 a similar advisory position related to the earlier Millennium Development Goals (MDGs),[9] eight internationally sanctioned objectives to reduce extreme poverty, hunger and disease by 2015. In connection with the MDGs, he had first been appointed special adviser to the UN Secretary-General in 2002 during the term of Kofi Annan.[9][10]
Sachs is co-founder and chief strategist of
Early life and education
Sachs was raised in
Academic career
Harvard University
In 1980, Sachs joined the Harvard faculty as an assistant professor, and was promoted to associate professor in 1982. A year later at the age of 28, he became a professor of economics with tenure at Harvard.[20]
During the next 19 years at Harvard, Sachs became the Galen L. Stone Professor of International Trade,[21] director of the Harvard Institute for International Development (1995–1999) and director of the Center for International Development at Harvard Kennedy School (1999–2002).[22]
Columbia University
Sachs is the Director of the Center for Sustainable Development at Columbia University. He is University Professor at Columbia University. From 2002 to 2016, Sachs was director of the
Scholarship, consulting, and activism
Sachs has advised several countries on economic policy.[26][27]
Bolivia
When Bolivia was shifting from a dictatorship to a democracy through national elections in 1985, Sachs was invited by the party of Bolivian dictator Hugo Banzer to advise him on an anti-inflation economic plan to implement once he was voted to office. This stabilization plan centered on price deregulation, particularly for oil, along with cuts to the national budget. Sachs stated that his plan could end Bolivian hyperinflation, which had reached up to 14,000%, in a single day.[28][non-primary source needed] Although Banzer ultimately lost the election to the party of former elected president and traditionally developmentalist Víctor Paz Estenssoro, Sachs's plan was still implemented through plans that excluded most of Paz's cabinet. Inflation quickly stabilized in Bolivia.[29][30]
Sachs' suggestion for reducing inflation was to apply fiscal and monetary discipline[clarification needed] and end economic regulation that protected the elites[clarification needed] and blocked the free market[clarification needed]. Hyperinflation reduced within weeks of the Bolivian government instituting his suggestions and the government settled its $3.3 billion debt to international lenders for about 11 cents on the dollar. At the time, this was about 85% of Bolivia's GDP.[31][32]
Advising in post-communist economies
Sachs has worked as an economic adviser to governments in
In 1989, Sachs advised Poland's
Sachs's ideas and methods of transition from central planning were adopted throughout the transition economies. He advised Slovenia in 1991 and Estonia in 1992 on the introduction of new stable and convertible currencies.[citation needed] Based on Poland's success, his advice was sought first by Soviet President Mikhail Gorbachev and by his successor, Russian President Boris Yeltsin, on the transition of the USSR/Russia to a market economy.[37] He was adviser to Prime Minister Yegor Gaidar and Finance Minister Boris Federov during 1991–1993 on macroeconomic policies.[citation needed] Sachs' methods for stabilizing economies became known as shock therapy and were similar to successful approaches used in Germany after the two world wars.[31] However, he faced criticism for his role after the Russian economy faced signficicant struggles after adopting the market-based shock therapy in the early 1990s.[38][39][40]
Work on global economic development
Since his work in post-communist countries, Sachs has turned to global issues of
Sachs’s ambitions are hard to overstate... “His ultimate goal is to change the world — to ‘bend history,’ as he once said, quoting Robert F. Kennedy,” wrote Nina Munk in The Idealist, a biography of Sachs. By the early aughts, he had risen from wonky academic to celebrity public intellectual. According to Munk, people in Sachs’s inner circle affectionately called him a “shit disturber,” someone whose ego was offset by a selfless genius and a penchant for challenging orthodoxies. “There’s a certain messianic quality about him,” George Soros, one of his patrons, told Munk.[41]
In his 2005 work The End of Poverty, which had a foreword by Bono,[41] Sachs wrote that "Africa's governance is poor because Africa is poor". According to Sachs, with the right policies and key interventions, extreme poverty—defined as living on less than $1 a day—can be eradicated within 20 years. India and China are examples, with the latter lifting 300 million people out of extreme poverty during the last two decades. Sachs has said that a key element to accomplishing this is raising aid from $65 billion in 2002 to $195 billion a year by 2015. He emphasizes the role of geography and climate as much of Africa is landlocked and disease-prone. However, he stresses that these problems can be overcome.[42][third-party source needed]
Sachs suggests that with improved seeds, irrigation and fertilizer, the
The Millennium Villages Project (MVP) which he directs operates in more than a dozen African countries and covers more than 500,000 people. The MVP has created controversy because critics have questioned both the design of the project and claims made for its success. In 2012, The Economist reviewed the project and concluded "the evidence does not yet support the claim that the millennium villages project is making a decisive impact".[45] Critics have pointed to the failure to include suitable controls that would allow an accurate determination of whether the MVP methods were responsible for any observed gains in economic development. A 2012 Lancet paper claiming a three-fold increase in the rate of decline in childhood mortality was criticized for flawed methodology and the authors later admitted that the claim was "unwarranted and misleading".[46] In her 2013 book, The Idealist: Jeffrey Sachs and the Quest to End Poverty, journalist Nina Munk concluded that the MVP was a failure.[47]
Following the adoption of the Millennium Development Goals (MDGs) in 2000, Sachs chaired the WHO Commission on Macroeconomics and Health (2000–2001) which played a pivotal role in scaling up the financing of health care and disease control in the low-income countries to support MDGs 4, 5 and 6. He worked with UN Secretary-General
Previously a special adviser to secretary-general António Guterres,[9][10] Sachs is an advocate for the 2015 Sustainable Development Goals which build upon and supersede the MDGs.[citation needed]
In his capacity as a special adviser at the UN, Sachs has frequently met with
Sachs has criticized the International Monetary Fund and its policies around the world and blamed international bankers for what he says is a pattern of ineffective investment strategies.[50][non-primary source needed]
During the Greek government-debt crisis in July 2015, Sachs, Heiner Flassbeck, Thomas Piketty, Dani Rodrik and Simon Wren-Lewis, published an open letter to the Chancellor of Germany Angela Merkel, regarding Greek debt.[51]
Sachs is one of the founders of the Deep Decarbonization Pathways Project.[52]
Views and commentary
Nuclear power
In 2012 Sachs claimed that
China
Sachs is a "long-time advocate of dismantling American hegemony and embracing the rise of China."[55] He believes the term "genocide" is mistaken in relation to the repression of the Uyghurs in China.[26] He has argued for closer relations between the US and China and warned of the danger of tensions between them.[56][57]
Syria
In April 2018, he supported President
Venezuela
A 2019 report authored by Sachs and
A United States Department of State spokesperson commented that "as the writers themselves concede, the report is based on speculation and conjecture."[60] Harvard economist Ricardo Hausmann asserts that the analysis is flawed because it makes invalid assumptions about Venezuela based on a different country like Colombia, saying that "taking what happened in Colombia since 2017 as a counterfactual for what would have happened in Venezuela if there had been no financial sanctions makes no sense." Calling it "sloppy reasoning", the authors also state that the analysis failed to rule out other explanations and failed to correctly account for PDVSA finances.[61]
COVID-19
Early in the COVID-19 pandemic, Sachs vocally rejected the COVID-19 lab leak theory (a version of which was being supported by President Donald Trump), which posited the SARS-CoV-2 virus was released from a Chinese laboratory, denouncing it as "reckless and dangerous" and arguing that right-wing politicians pointing fingers at the Wuhan Institute of Virology could "push the world to conflict... Neither the biology nor chronology support the laboratory-release story."[41]
In spring 2020,
In July 2022, Sachs said he was "pretty convinced," though "not sure" that
In August 2022, Sachs gave an hour-long interview on the podcast of
In September 2022, the Lancet commission published a wide-ranging report on the pandemic, including commentary on the virus origin overseen by Sachs. The report suggested that the virus may have originated from an American laboratory.[67] Virologists reacting to this, including Angela Rasmussen, commented that the release may have been "one of The Lancet's most shameful moments regarding its role as a steward and leader in communicating crucial findings about science and medicine."[68] Virologist David Robertson said the suggestion of US laboratory involvement was "wild speculation" and that "it's really disappointing to see such a potentially influential report contributing to further misinformation on such an important topic."[68]
War in Ukraine
In May 2022, Sachs said that the Russian invasion of Ukraine in February 2022 would be hard to beat and that Finland's moves to join NATO would undermine a negotiated peace: "All of this talk of defeating Russia, to my mind, is reckless."[69] In June 2022, he co-signed an open letter calling for a "ceasefire" in the war, questioning Western countries' continuing military support for Ukraine.[70]
In 2022, he appeared twice on one of the top-rated shows funded by the Russian government, hosted by Vladimir Solovyov, to call for Ukraine to negotiate and step away from its "maximalist demands" of removing Russia from Ukrainian territory.[71]
Sachs has suggested that the U.S. was responsible for the sabotage of the Nord Stream pipeline. In February 2023, he was invited by the Russian government to address the United Nations Security Council about the topic.[72][26]
Critical reception
Economics
Sachs's economic philosophies have been the subject of controversy.[73] Nina Munk, author of the 2013 book The Idealist: Jeffrey Sachs and the Quest to End Poverty, says that, although well intended, poverty eradication projects endorsed by Sachs have years later "left people even worse off than before".[74][75]
Commenting on Sachs' $120 million effort to aid Africa, American travel writer and novelist
According to the Canadian journalist Naomi Klein, Jeffrey Sachs is one of the architects of "disaster capitalism" after his recommendations in Bolivia, Poland and Russia led to millions of people ending up in the streets.[79]
China
In December 2018,
In June 2020, Sachs said the targeting of Huawei by the US was not solely about security.[82] In their 2020 book Hidden Hand, Clive Hamilton and Mareike Ohlberg commented on one of Sachs' articles in which he accused the U.S. government of maligning Huawei under hypocritical pretenses. Hamilton and Ohlberg wrote that Sachs' article would be more meaningful and influential if he did not have a close relationship with Huawei, including his previous endorsement of the company's "vision of our shared digital future". The authors also alleged that Sachs has ties to a number of Chinese state bodies and the private energy corporation CEFC China Energy for which he has spoken.[83]
During a January 2021 interview, despite the interviewer's repeated prompting, Sachs evaded questions about China's repression of Uyghur people and referred to "huge human rights abuses committed by the U.S."[84] Subsequently, 19 advocacy and rights groups jointly wrote a letter to Columbia University questioning Sachs' comments.[84][85] The letter's signatories wrote that Sachs took the same stance as China's Ministry of Foreign Affairs, a digression to the history of U.S. rights violations as a way to avoid discussions of China's mistreatment of Uyghurs. The rights groups went on to say that Sachs "betrayed his institution's mission" by trivializing the perspective of those who were oppressed by the Chinese government.[84][85] Stephan Richter, editor-in-chief at The Globalist, and J.D. Bindenagel, a former U.S. ambassador, wrote that Sachs was "actively agitating(!) for a classic Communist propaganda ploy".[86]
War in Ukraine
Sachs's views on Russia's invasion of Ukraine in late February 2022 – and specifically his belief that NATO contributed to it – has been criticized as poorly informed by James Kirchick in The Atlantic[87]. In March 2023 a group of 340 economists published an open letter, criticising his point of view.[88][14]
Personal life
Sachs lives in New York City with his wife Sonia Ehrlich Sachs, a pediatrician. They have three children.[89][90][91]
2020 United States presidential election
Sachs endorsed Bernie Sanders in the 2020 Democratic Party presidential primaries and has provided advice to Sanders.[92]
Awards and honors
In 2004 and 2005, Sachs was named one of the 100 Most Influential People in the World by Time. He was also named one of the "500 Most Influential People in the Field of Foreign Policy" by the World Affairs Councils of America.[93]
In 1993, the
In 2007, Sachs received the S. Roger Horchow Award for Greatest Public Service by a Private Citizen, an award given out annually by Jefferson Awards.[95]
From 2000 to 2001, Sachs was chairman of the Commission on Macroeconomics and Health
In September 2008,
In 2016, Sachs became president of the Eastern Economic Association, succeeding Janet Currie.[99]
In 2017, Sachs and his wife were the joint recipients of the first World Sustainability Award.[100] In 2015, Sachs was awarded the Blue Planet Prize for his contributions to solving global environmental problems.[101]
In May 2017 Sachs was awarded the Boris Mints Institute Prize for Research of Strategic Policy Solutions to Global Challenges.[102]
In 2022 Sachs was awarded the Tang Prize in the category of sustainable development.[103]
Publications
Sachs writes a monthly foreign affairs column for
Selected works
- Sachs, Jeffrey (2020). The ages of globalization : geography, technology, and institutions. New York. OCLC 1100777002.)
{{cite book}}
: CS1 maint: location missing publisher (link - Sachs, Jeffrey (2018). A new foreign policy : beyond American exceptionalism. New York. OCLC 1028584983.)
{{cite book}}
: CS1 maint: location missing publisher (link - Sachs, Jeffrey (2017). Building the new American economy : smart, fair, and sustainable. New York. )
- Sachs, Jeffrey (2015). The age of sustainable development. Ki-mun Pan. New York. )
- Sachs, Jeffrey (2013). To move the world : JFK's quest for peace (First ed.). New York. )
- Sachs, Jeffrey (2011). OCLC 711989050.
- Sachs, Jeffrey D. (June 2010). "Millennium Development Goals at 10". PMID 20521476.
- Sachs, Jeffrey (2008). Common wealth : economics for a crowded planet. New York: Penguin Press. OCLC 167764116.
- Humphreys, Macartan; Sachs, Jeffrey; Stiglitz, Joseph E., eds. (2007). Escaping the resource curse. New York: Columbia University Press. OCLC 654395500.
- Sachs, Jeffrey (2005). OCLC 57243168.
- Kirkman, Geoffrey S., Cornelius, Peter K., Sach, Jeffrey D. and ISBN 0195152581
- Sachs, Jeffrey (2002). A New Global Effort to Control Malaria (Science), Vol. 298, October 4, 2002
- Sachs, Jeffrey (2002). Resolving the Debt Crisis of Low-Income Countries (Brookings Papers on Economic Activity), 2002:1
- Sachs, Jeffrey (2001). The Strategic Significance of Global Inequality (The Washington Quarterly), Vol. 24, No. 3, Summer 2001
- Sachs, Jeffrey (1997). Development Economics ISBN 0-8133-3314-8
- The rule of law and economic reform in Russia. Jeffrey Sachs, Katharina Pistor. Boulder, Colo.: )
- Sachs, Jeffrey (1994). Poland's jump to the market economy (1st ed.). Cambridge, Mass.: MIT Press. OCLC 31820041.
- Sachs, Jeffrey (1993). OCLC 25026552.
- Sachs, Jeffrey (ed) (1991). Developing Country Debt and Economic Performance, Volume 1 : The International Financial System (National Bureau of Economic Research Project Report) ISBN 0-226-73332-7
- Sachs, Jeffrey and ISBN 0-8157-5600-3)
- Sachs, Jeffrey, ed. (1989). Developing country debt and the world economy. Chicago: University of Chicago Press. OCLC 18351577.
- Bruno, Michael and Sachs, Jeffrey (1984), "Stagflation in the World Economy"
References
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{{cite web}}
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{{cite web}}
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Dr. Sachs helped start what is perhaps the most serious effort to draw up a detailed road map for the energy transition: the Deep Decarbonization Pathways Project, based in Paris and New York. Over the past couple of years, the effort enlisted teams from 16 countries, which account for the large majority of global emissions, to devise such plans.
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About a year ago, Sachs named Ruhiira a "Millennium Village," one of 79 villages in 10 African countries where his controversial theories on ending extreme poverty are being tested
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Sachs, Theodore, Beloved husband of Joan. Dear father of Andrea Sachs, Jeffrey (Dr. Sonia Ehrlich) Sachs. Grandmother of Lisa, Adam and Hannah Sachs. Brother of the late Maurice Sachs, the late Sidney Sachs, the late Sol Sachs, and the late Freda Handelsman. Brother-in-law of Dr. Gerald and Gloria Abrams, Mary Sachs.
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