JEFFREY DAVID SACHS (/sæks/ ; born November 5, 1954) is an American economist and director of the Earth Institute at Columbia University , where he holds the title of University Professor , the highest rank Columbia bestows on its faculty. He is known as one of the world's leading experts on economic development and the fight against poverty.
Sachs is the Quetelet Professor of Sustainable Development at
School of International and Public Affairs and a professor
of health policy and management at Columbia's School of Public Health
. As of 2017 he serves as special adviser to the United Nations
Sachs has written several books and received many awards.
* 1 Early life and education
* 2 Academic career
* 3 Scholarship and commentary
* 3.1 Advising in post-communist economies * 3.2 Work on global economic development
* 4 Critical reception * 5 Personal life
* 6 Awards and honors
* 6.1 Honorary degrees
* 7 Publications
* 7.1 Selected works
* 8 See also * 9 References * 10 External links
EARLY LIFE AND EDUCATION
Sachs was raised in Oak Park , a suburb of
AT HARVARD UNIVERSITY
In 1980 he joined the Harvard faculty as an assistant professor and was promoted to associate professor in 1982. A year later, at the age of 28, Sachs became a full professor of economics with tenure at Harvard.
During the next 19 years at Harvard, he became the Galen L. Stone Professor of International Trade, director of the Harvard Institute for International Development at the Kennedy School of Government (1995–1999), and director of the Center for International Development (1999–2002).
AT COLUMBIA UNIVERSITY
From 2002 to 2016 Sachs served as director of the Earth Institute of Columbia University, a university-wide organization of more than 850 professionals from natural science and social science disciplines, with a common mission to address complex issues facing the Earth, in support of sustainable development. Sachs's classes are taught at the School of International and Public Affairs and the Mailman School of Public Health , and his course "Challenges of Sustainable Development" is taught at the undergraduate level.
Sachs has consistently advocated for the expansion of university education on sustainable development. He helped to introduce the Ph.D. in sustainable development at Columbia University, one of the first Ph.D. programs of its kind in the U.S., and championed the new Masters of Development Practice (MDP), which led to a consortium of major universities around the world offering the new degree. The Earth Institute also guided the adoption of sustainable development as a new major at Columbia College.
Sachs's policy and academic works span the challenges of globalization, and include the relationship of trade and economic growth, the resource curse and extractive industries, public health and economic development, economic geography, strategies of economic reform, international financial markets, macroeconomic policy, global competitiveness, climate change, and the end of poverty. He has written or co-authored hundreds of scholarly articles and several books, including three bestsellers and a textbook on macroeconomics.
In 2011 Sachs called for the creation of a third U.S. political party, the Alliance for the Radical Center .
SCHOLARSHIP AND COMMENTARY
ADVISING IN POST-COMMUNIST ECONOMIES
Sachs has worked as an economic adviser to governments in Latin
America, Eastern Europe, and the former
In 1985, when Bolivia was shifting from a dictatorship to a democracy through national elections, 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 around price deregulation, particularly for oil, as well as 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. Though Banzer ultimately lost the race to the party of former elected president and traditionally developmentalist Victor Paz Estenssoro, Sachs's plan was still implemented through plans that excluded most of Paz's cabinet. Inflation quickly stabilized in Bolivia.
In 1989 Sachs advised Poland's anticommunist Solidarity movement and the government of Prime Minister Tadeusz Mazowiecki . He wrote a comprehensive plan for the transition from central planning to a market economy, which became incorporated into Poland's reform program led by Finance Minister Leszek Balcerowicz . Sachs was the main architect of Poland's successful debt reduction operation. Sachs and IMF economist David Lipton advised the rapid conversion of all property and assets from public to private ownership. Closure of many uncompetitive factories ensued. In Poland, Sachs was firmly on the side of rapid transition to "normal" capitalism. At first he proposed U.S.-style corporate structures, with professional managers answering to many shareholders and a large economic role for stock markets. That did not fly with the Polish authorities, but he then proposed that large blocks of the shares of privatized companies be placed in the hands of private banks. As a result, there were some economic shortages and inflation , but prices in Poland eventually stabilized. The government of Poland awarded Sachs with one of its highest honors in 1999, the Commander's Cross of the Order of Merit . He also received an honorary doctorate from the Cracow University of Economics.
Sachs's ideas and methods of transition from central planning were
adopted throughout the transition economies. He advised Slovenia
WORK ON GLOBAL ECONOMIC DEVELOPMENT
More recently, Sachs has turned to global issues of economic development , poverty alleviation , health and aid policy , and environmental sustainability . He has written extensively on climate change , disease control , and globalization . Since 1995, he has been engaged in efforts to alleviate poverty in Africa. Jeffrey Sachs at a UN Meeting, 2009
In his 2005 work, The End of Poverty , Sachs wrote, "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 serve as 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.
Sachs suggests that with improved seeds, irrigation, and fertilizer, the crop yields in Africa and other places with subsistence farming can be increased from 1 ton per hectare to 3 to 5 tons per hectare. He reasons that increased harvests would significantly increase the income of subsistence farmers, thereby reducing poverty. Sachs does not believe that increased aid is the only solution. He also supports establishing credit and microloan programs , which are often lacking in impoverished areas. Sachs advocates the distribution of free insecticide-treated bed nets to combat malaria . The economic impact of malaria has been estimated to cost Africa $12 billion per year. Sachs estimates that malaria can be controlled for $3 billion per year, thus suggesting that anti-malaria projects would be an economically justified investment.
The Millennium Villages Project , which he directs, operates in more than a dozen African countries and covers more than 500,000 people. The MVP has engendered considerable controversy associated as 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." Critics have pointed to the failure to include suitable controls that would allow an accurate determination of whether the Projects methods were responsible for any observed gains in economic development. A 2012 Lancet paper claiming a 3-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".
Sachs works closely with the
Islamic Development Bank to scale up
programs of integrated rural development and sustainable agriculture
among the bank's member countries. One such project supports
pastoralist communities in Eastern Africa, with six participating
Following the adoption of the
Millennium Development Goals (MDGs), in
2000, Sachs was the leading academic scholar and practitioner on the
MDGs. He chaired the WHO Commission on Macroeconomics and Health
(2000–01), 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 Kofi
Annan in 2000–2001 to design and launch The Global Fund to Fight
AIDS, Tuberculosis and
Presently a special adviser to secretary-general
In his capacity as a special adviser at the UN, Sachs has frequently
met with foreign dignitaries and heads of state . He developed a
friendship with international celebrities
Sachs has consistently criticised the International Monetary Fund and its policies around the world, and blamed international bankers for what he claims is a pattern of ineffective investment strategies.
Greek government-debt crisis
Sachs is one of the founders of the Deep Decarbonization Pathways Project .
Sachs's economic philosophies have been the subject of both praise and criticism. One of Sachs's strongest critics is William Easterly , a professor of economics at New York University . Easterly reproached The End of Poverty in his review for The Washington Post , and Easterly's 2006 book White Man's Burden is a response to Sachs's argument that poor countries are stuck in a "poverty trap " from which there is no escape except by massively scaled-up foreign aid. Sachs himself has emphasized the need for a multifaceted approach to economic development, of which increased and responsible foreign aid is nearly always a necessary part. Easterly presents statistical evidence that he claims proves that many emerging markets attained their higher status without the large amounts of foreign aid Sachs proposes.
Nina Munk , author of the 2013 book The Idealist:
Sachs lives in
New York City
AWARDS AND HONORS
In 2015 Sachs was awarded the Blue Planet Prize for his contributions to solving global environmental problems. In 2004 and 2005 he was named one of the 100 Most Influential People in the World by Time Magazine . He was also named one of the "500 Most Influential People in the Field of Foreign Policy" by the World Affairs Councils of America .
In 2005 he received the Sargent Shriver Award for Equal Justice . In 2007 Sachs was awarded the Padma Bhushan , the third highest civilian honor bestowed by the government of India . Also in 2007, he received the Cardozo Journal of Conflict Resolution International Advocate for Peace Award and the Centennial Medal from the Harvard Graduate School of Arts and Sciences for his contributions to society.
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 .
From 2000 to 2001, Sachs was chairman of the Commission on
Macroeconomics and Health of the
World Health Organization , and from
1999 to 2000 he served as a member of the International Financial
Institution Advisory Commission established by the
U.S. Congress .
Sachs has been an adviser to the
World Bank , the Organization for
Economic Cooperation and Development , the World Health Organization,
International Monetary Fund , and the United Nations Development
Program . He is a member of the
Institute of Medicine , the American
Academy of Arts and Sciences ,
Harvard Society of Fellows , the
Fellows of the World Econometric Society, the Brookings Panel of
National Bureau of Economic Research , and the Board
of Advisers of the Chinese Economists Society, among other
international organizations. Sachs is first holder of the Royal
Professor Ungku Aziz Chair in Poverty Studies at the Centre for
Poverty and Development Studies at the
University of Malaya
In September 2008 Vanity Fair magazine ranked Sachs 98th on its list of 100 members of the New Establishment. In July 2009 Sachs became a member of the SNV Netherlands Development Organisation 's International Advisory Board. In 2009 Princeton University 's American Whig-Cliosophic Society awarded Sachs the James Madison Award for Distinguished Public Service .
Sachs has received honorary degrees from
Connecticut College , Lehigh
Sachs has written hundreds of academic articles and many books, including three New York Times bestsellers : The End of Poverty: Economic Possibilities for Our Time (Penguin, 2005), Common Wealth: Economics for a Crowded Planet (Penguin, 2008), and The Price of Civilization: Reawakening American Virtue and Prosperity (Random House, 2011). His Building the New American Economy was published in 2017.
He writes a monthly foreign affairs column for
* Sachs, Jeffrey (2017). Building the New American Economy: Smart, Fair, border:solid #aaa 1px">
* Sustainable development portal
* ^ "Janet Shan, "Keynesian Economist,
Wikiquote has quotations related to: JEFFREY