Jeffrey D. Sachs's Blog, page 16

A Fiscal Plan for Puerto Rico

Faced with physical and economic devastation, Puerto Rico now has a once-in-a-generation chance to rebuild its infrastructure and economic foundation. To succeed, decisive leadership is required on the island and in the US Congress. A new, far-reaching plan must be set to restore economic growth. Read the full open letter here.

Financing for Green Sustainable Development

Green sustainable development has been on multiple discussions channels. Talks, seminars, workshops, you name it. However, financing it has not been thoroughly discussed. How do we finance sustainable green development? Is it profitable for companies who do so? Is the rate of return high enough to cover the cost of investing in green technologies? Read [...]

Cryptocurrency chaos: Large price drops for Bitcoin, other digital currencies

Cryptocurrency chaos: Large price drops for Bitcoin, other digital currencies @JeffDSachs https://t.co/wogtLe8t3r — CNN Newsroom LA (@CNNNewsroomLA) January 19, 2018

NYC is selling off its fossil fuel investments—here’s why that matters

This has been a dizzying year for those anxious about climate change. On the policy front, President Trump has worked to unravel President Obama’s progress on climate, reversing two of his signature achievements first by withdrawing from the Paris Climate Agreement in June and then scrapping the Clean Power Plan in October. Read more here.

The West’s Broken Promises on Education Aid

NEW YORK – The Global Partnership for Education, a worthy and capable initiative to promote education in 65 low-income countries, is having what the jargon of development assistance calls a “replenishment round,” meaning that it is asking donor governments to refill its coffers. Yet the fact that the GPE is begging for mere crumbs – a [...]

‘Belt and Road Initiative’ and Hong Kong have to step up efforts in going green, UN adviser says

Professor Jeffrey Sachs, director of the UN Sustainable Development Solutions Network, also highlighted the need for Hong Kong to combat its air pollution and speed up the reduction of carbon emissions in its energy system. Sachs, a world-renowned economist at Columbia University in New York, spoke to the Post during his visit last week to launch the [...]

A bold bid for climate justice

Published on CNN. (CNN) Americans are paying a fearsome price for global warming. The federal government’s National Oceanographic and Atmospheric Administration reported earlier this week that the three powerful Atlantic hurricanes of 2017 — Harvey, Irma and Maria — cost Americans $265 billion, and massive Western forest fires another $18 billion. Scientists have shown that human-induced climate change [...]

‘A really big deal’: New York City’s fossil fuel divestment could spur global shift

New York City’s decision to sever ties with its fossil fuel investments is set to prove a catalyst to other cities in the face of the Trump administration’s staunch support for coal, oil and gas interests, according to several leading economists. Read more in The Guardian.

Bitcoin craze headed for ‘bad ending’ warns billionaire Warren Buffett

Mr. Buffett believes the bitcoin craze will end in disaster, and is not about to buy a stake in any cryptocurrency. He told CNBC: “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. “When it happens or how or anything else, I don’t know.” The [...]

The bitcoin bubble will likely burst, and here’s why

Published in The Boston Globe. It is hard to see bitcoin’s price surge as anything other than a bubble that will ultimately collapse. Bitcoin’s ostensible social function as an anonymous, nongovernmental means of payment carries big risks of its demise. And while blockchain, the platform that records bitcoin transactions, may well have staying power, there [...]