Jeffrey D. Sachs's Blog, page 41
February 19, 2015
Greece needs time to negotiate
While the Greek crisis continues to rage, the eurogroup — the eurozone’s finance ministers — spent the past week quibbling over details in Brussels while the world waited breathlessly to know if the eurozone is going to derail the global recovery. The way forward is obvious. The world will not forgive the eurozone, led by [...]
February 16, 2015
The Drug That Is Bankrupting America
America is the land of breakthrough science — and health care scams. The two seem to go hand in hand in the case of the new hepatitis C virus (HCV) cure named sofosbuvir, sold under the brand name Solvadi by the drug company Gilead Sciences. There is no question that Solvadi is a godsend — [...]
Earth Calling the Financial Sector, with Hendrik du Toit
NEW YORK – Financial markets serve two crucial purposes: to channel savings toward productive investments, and to enable individuals and businesses to manage risks through diversification and insurance. As a result, the sector is essential to sustainable development, which represents unprecedented global-scale investment opportunities and risk-management challenges. That is why, when world leaders meet this [...]
February 10, 2015
The Age of Sustainable Development
The year 2015 will be our generation’s greatest opportunity to move the world toward sustainable development but achieving the UN Sustainable Development Goals (SDGs) will require tackling urgent challenges. Sustainable development is the central drama of our time. The world’s governments are currently negotiating a set of Sustainable Development Goals, or SDGs, for the period [...]
February 9, 2015
February 8, 2015
The True State of the Union 2015
Members of the Congressional Progressive Caucus and Fellow Citizens, The true State of the Union, and the state of the world, in 2015 can be described in one word: precarious. Despite our wealth, our technological knowhow, our global social media, we are a world at war with each other and with the planet itself. At [...]
January 30, 2015
The Responsible Investor’s Guide to Climate Change
NEW YORK – Around the world, institutional investors – including pension funds, insurance companies, philanthropic endowments, and universities – are grappling with the question of whether to divest from oil, gas, and coal companies. The reason, of course, is climate change: unless fossil-fuel consumption is cut sharply – and phased out entirely by around 2070, [...]
January 22, 2015
The ECB’s New Macroeconomic Realism
NEW YORK – The European Central Bank has finally launched a policy of quantitative easing (QE). The key question at this stage is whether Germany will give the ECB the freedom of maneuver needed to carry out this monetary expansion with sufficient boldness. Though QE cannot produce long-term growth, it can do much to end [...]
Let Greece profit from German history
The overwhelming truth about the Greek debt crisis is that it’s a massive distraction. Greece accounts for a mere 2% of the eurozone economy and the EU population. This doesn’t mean that Greece should be pushed around, still less pushed out of the eurozone. It means the very opposite: the crisis should be resolved, and [...]
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