Jeffrey D. Sachs Quotes & Sayings

The energy and daring is to resist the noes, until the final yes has been achieved. — Jeffrey D. Sachs

The United States is absolutely ripe for a rise in gasoline taxes. The nominal gasoline excise tax rate has been fixed at 18.4 cents per gallon since 1994.29 Inflation alone has reduced the real value of that tax per gallon by around 30 percent. As with other federal tax rates, the U.S. excise tax rate on gasoline is extremely low by international comparison. We might conservatively assume that by 2015 an extra 0.5 percent of GDP could be collected by some combination of a higher gasoline excise tax and modest carbon levies on other fossil fuels (such as on coal at the utilities). Other — Jeffrey D. Sachs

sweatshops are the first rung on the ladder out of extreme poverty — Jeffrey D. Sachs

measures like GDP per person give only a rough reflection of the overall level of wellbeing of an individual or a nation. But for sustainable development we are interested in raising human wellbeing, not just in raising income, still less in a mad race for more riches for people who are already rich. Therefore, it is important to ask how we can best measure wellbeing (or life satisfaction) beyond GDP per capita. — Jeffrey D. Sachs

America cut back on "welfare" from the 1970s onward. Family income support fell from 0.4 percent of GDP in 1970 to under 0.2 percent in 2010.16 Welfare still looms large in the public's imagination, but it plays little role in the budget and the deficit. It's been a long time since America was generous to its poor families with children! The — Jeffrey D. Sachs

Sustainability, or fairness to the future, therefore involves the concept of stewardship, the idea that the living generation must be stewards of the earth's resources for the generations that will come later. That's a tough role to play. There is nothing natural or innate about it. We need to defend the interests of those whom we've never met and never will. Yet those are our descendants and our fellow humanity. Alas, it's a role that we've mostly ignored till now, to the increasing peril of all who will follow. The — Jeffrey D. Sachs

The rich control our politics to a huge extend. In return they get tax cuts and deregulation. It's been and is an amazing ride for the rich. — Jeffrey D. Sachs

We need the rich today to do their modest part to enable all of society to share in prosperity. By passing that hurdle, we would reduce the need for long-term transfers from rich to poor in the future. The — Jeffrey D. Sachs

Knowing that an economy is in decline is not enough. We must know why the economy is failing to achieve economic growth if we are to take steps to establish or reestablish it. — Jeffrey D. Sachs

Here, then, are some things on which Americans broadly agree. They agree that there should be equality of opportunity for American citizens. They agree that individuals should make the maximum effort to help themselves. They agree that government should help those in real need, as long as they are also trying to help themselves. And they broadly agree that the rich should pay more in taxes. These core values can form the basis of a broad and effective consensus on the basic direction of economic policy. In — Jeffrey D. Sachs

is not peace, in the last analysis, basically a matter of human rights - the right to live out our lives without fear of devastation - the right to breathe air as nature provided it - the right of future generations to a healthy existence?10 Kennedy — Jeffrey D. Sachs

Libertarians aim to absolve the rich of any social responsibilities toward the rest of society. As a school of thought, libertarianism is based on three kinds of arguments. The first is a moral assertion: that every individual has the overriding right to liberty, that is, the right to be left alone, free from taxes, regulations, or other demands of the state. The second is political and pragmatic: that only free markets protect democracy from government despotism. The third is economic: that free markets alone are enough to ensure prosperity. Such — Jeffrey D. Sachs

it is the provision of public services, notably the universal access to affordable day care, even more than income support to families, that is key to the elimination of poverty among families with children. Sweden's public services, of uniformly high quality, ensure a decent start for all children. Sweden — Jeffrey D. Sachs

My point here is to insist that the rich should pay their way, and that they can easily afford to do so. All of the angst of canceling vital government programs to close the deficit is a charade put on by the rich for the rich. With a fair tax structure and a just contribution of the rich to the rest of society, we can afford a truly civilized America. Let — Jeffrey D. Sachs

They did not understand that by liberalizing imports, the government was also promoting exports. — Jeffrey D. Sachs

Our greatest national illusion is that a healthy society can be organized around the single-minded pursuit of wealth. — Jeffrey D. Sachs

The compromises made with the rich are consistently out of line with public opinion. The public desires to tax the rich more heavily, cut military spending, and develop renewable energy alternatives to oil. The outcome instead is tax cuts for the rich, unchecked military spending, and a continued stagnation in alternatives to oil, gas, and coal. Both — Jeffrey D. Sachs

A new governing majority will depend on two breakthroughs. The first is that voters, not big money, once again determine election outcomes. We need to break out of the money-politics-media trap. The second is that government be able to translate increased revenues into effective public services and infrastructure. We need, in short, a return to civic virtue, in which Americans recommit to contributing to the common benefit and to cooperating for mutual gain. — Jeffrey D. Sachs

The upshot is the following: Perhaps 4 percent of extra GDP could be collected as of 2015 mainly by taxing the rich (2 percent), tightening corporate taxation (1 percent), strengthening tax enforcement (0.5 to 1 percent), taxing financial transactions, and taxing carbon emissions (0.5 percent). Introducing a VAT would raise even more revenues and could be phased in over several years. The point is that there are lots of options, and most of them could be concentrated near the top of the income distribution, where they belong. How — Jeffrey D. Sachs

reason why prosperity spread, and why it continues to spread, is the transmission of technologies and the ideas underlying them. — Jeffrey D. Sachs

the United States will need substantially more revenues to close the budget deficit, especially recognizing the need to increase federal spending in certain critical areas. I — Jeffrey D. Sachs

We need to defend the interests of those whom we've never met and never will. — Jeffrey D. Sachs

world is not a zero-sum struggle in which one country's gain is another's loss. — Jeffrey D. Sachs

A considerable amount of American consumption spending is not for the enjoyment of consumption per se, but to show off wealth, status, or sexual allure. In the famous phrase of the economist and social critic Thorstein Veblen, this is "conspicuous consumption," that is, consumption whose main purpose is to impress others rather than to be enjoyed by oneself.2 — Jeffrey D. Sachs

The supposition that there is massive waste to be cut in the civilian budget is simply a myth. To recapitulate: ending all earmarks and foreign aid and achieving all of the specific cuts on civilian programs proposed by the deficit commission, even if such choices were meritorious, would amount to less than 1 percent of GDP. True — Jeffrey D. Sachs

Markets cannot meet the needs of the very poor. The desperately poor are not consumers who will create an immediate profit. — Jeffrey D. Sachs

Basic survival goods are cheap, whereas narcissistic self-stimulation and social-display products are expensive. Living doesn't cost much, but showing off does.3 For — Jeffrey D. Sachs

The vast differences in power contributed to faulty social theories of these differences that are still with us today. When a society is economically dominant, it is easy for its members to assume that such dominance reflects a deeper superiority
whether religious, racial, genetic, cultural, or institutional
rather than an accident of timing or geography. — Jeffrey D. Sachs

When the political and economic situation is as dangerous as it is today, cynicism and loss of time are far more dangerous than they look. History plays cruel tricks on the unserious. American political leaders have been in an unserious mood for years, unwilling to level with the American people. The — Jeffrey D. Sachs

our common humanity made it possible to find common cause in the midst of competition and that peace depended on our own virtue and ethical behavior. — Jeffrey D. Sachs

It is easy to lose sight of the ultimate purpose of economic policy: the life satisfaction of the population. That ultimate goal should be unassailable for a country founded precisely to defend the inalienable right to the pursuit of happiness. — Jeffrey D. Sachs

We have entered a new era. Global society is interconnected as never before. [...] I suggest that we have arrived in the Age of Sustainable Development. — Jeffrey D. Sachs

humans have a profound ability both to cooperate and nurture and to shun others and fight.8 In our advanced technological age, with the capacity of our weapons to end human life, our ability to master our baser emotions and channel them toward constructive and cooperative outcomes will provide the basis for our survival. — Jeffrey D. Sachs

History is written by the rich, and so the poor get blamed for everything. — Jeffrey D. Sachs

The combination of higher income taxation and wealth taxation would thereby raise at least 2 percentage points of GDP from the very top earners. But even if they had to pay another 2 percent of GDP, there would certainly be no need to shed tears for the rich. Their net-of-tax income would remain around 10 percent of GDP, a share of national income two-thirds higher than the 6 percent of GDP in 1980. There — Jeffrey D. Sachs

The current situation reminds me too much of the fable of the
farmer whose chickens are dying. The local priest gives one remedy af-
ter another - prayers, potions, oaths - until all of the chickens are dead.
"Too bad," says the priest, "I had so many other good ideas. — Jeffrey D. Sachs

The end result of all this consumption is a society running furiously to stay in place. The overwork by each member of society puts a burden (a negative externality) on others, who must also run hard to keep up. Consumers also run because others are running, with everybody finding themselves in a race they'd rather do without. The — Jeffrey D. Sachs

Deep down, if we really accept that their lives - African lives - are equal to ours, we would all be doing more to put the fire out. Its an uncomfortable truth. — Jeffrey D. Sachs

The Millennials, as a result, are less likely to be divided or even torn asunder by the culture wars of the boomer generation. They will live naturally with diversity. They will accept a more activist government. They will be more attuned to environmental needs. All this points in the direction of the mindful economy, if the healing strengths of the Millennial generation's tolerance and optimism are mobilized for collective political action. What, — Jeffrey D. Sachs

According to the latest wealth data of the Federal Reserve Board in the Flow of Funds, the total net worth of households is around $56.8 trillion.27 The wealth of the top 1 percent is therefore around $20.6 trillion. With roughly 113 million households, the average wealth of the richest 1 percent is roughly $18.2 million per household. — Jeffrey D. Sachs

When libertarians deride the idea of social fairness as just one more nuisance, they unleash greed. The kind of unconstrained greed that is now loose in America is leading not to real liberty but to corporate criminality and deceit; not to democracy but to politics dominated by special interests; and not to prosperity but to income stagnation for much of the population and untold riches at the very top. — Jeffrey D. Sachs

There is no economic imperative that will condemn us to deplete our vital resource base, but neither is there an invisible hand that will prevent us from doing so. — Jeffrey D. Sachs

Similarly, though the United States is one of the world's richest economies by per capita income, it ranks only around seventeenth in reported life satisfaction. It is superseded not only by the likely candidates of Finland, Norway, and Sweden, which all rank above the United States but also by less likely candidates such as Costa Rica and the Dominican Republic. Indeed, one might surmise that it is health and longevity rather than income that give the biggest boost to reported life satisfaction. Since good health and longevity can be achieved at per capita income levels well below those of the United States, so too can life satisfaction. One marketing expert put it this way, with only slight exaggeration: Basic Survival goods are cheap, whereas narcissistic self-stimulation and social-display products are expensive. Living doesn't cost much, but showing off does. — Jeffrey D. Sachs