A Quote by Jeffrey Sachs
The rich do not have to invest enough in the poorest countries to make them rich; they need to invest enough so that these countries can get their foot on the economic ladder . . . Economic development works. It can be successful. It tends to build on itself. But it must get started.
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The key to ending extreme poverty is to enable the poorest of the poor to get their foot on the ladder of development. The ladder of development hovers overhead, and the poorest of the poor are stuck beneath it. They lack the minimum amount of capital necessary to get a foothold, and therefore need a boost up to the first rung.
The great question for our time is, how to make sure that the continuing scientific revolution brings benefits to everybody rather than widening the gap between rich and poor. To lift up poor countries, and poor people in rich countries, from poverty, to give them a chance of a decent life, technology is not enough. Technology must be guided and driven by ethics if it is to do more than provide new toys for the rich.
Britain's generosity in the world has allowed us to help the poorest countries to get on the road to industrialisation through economic development and private sector investment in the world's most difficult frontier markets, where jobs and economic opportunities are desperately needed.
Unfortunately, the current pace of progress is not nearly rapid enough, with many rich industrialised countries being slow to make the transition to cleaner and more efficient forms of economic growth.
There will be no peace in Europe if the States rebuild themselves on the basis of national sovereignty, with its implications of prestige politics and economic protection... The countries of Europe are not strong enough individually to be able to guarantee prosperity and social development for their peoples. The States of Europe must therefore form a federation or a European entity that would make them into a common economic unit.
You campaigned against rich people and you got enough envy whipped up in the country and you're gonna get 'em. You're gonna stick it to those rich people. But guess what? You may not get anymore revenue. You may not get anymore economic growth. But you can say, 'I stuck it to the rich people.'
The best way I know to get rich long-term is to invest prudently and conservatively and not try and get rich quick but try and get rich slowly, basically.
Facebook, Twitter, Instagram, YouTube, and other economic and social platforms are not trying to build businesses, they are trying to build countries. Countries with laws, law enforcement, borders, and economic policy.
I always felt like if you get to a point where you've got enough money to invest in something real, you gotta invest in anything that's related to a natural resource because that's gonna be here forever - so you might as well invest in something that's gonna be here, rather than invest in something that's gonna wear out.
Would that there were an award for people who come to understand the concept of enough. Good enough. Successful enough. Thin enough. Rich enough. Socially responsible enough. When you have self-respect, you have enough.
Rich countries have 'kicked away the ladder' by forcing free-market, free-trade policies on poor countries. Already established countries do not want more competitors emerging through the nationalistic policies they themselves successfully used in the past.
Syria's neighboring countries cannot and should not carry the cost of caring for refugees on their own. The international community must share the burden with them by providing economic aid, investing in development in those countries, and opening their own borders to desperate Syrian families looking for protection.
The Chinese government since 1979 has been very successful in economic development, and successful enough, simply by surviving, in the realm of political development.
Gore Vidal, the American writer, once described the American economic system as 'free enterprise for the poor and socialism for the rich'. Macroeconomic policy on the global scale is a bit like that. It is Keynesianism for the rich countries and monetarism for the poor.
As you may know, the Millennium Challenge Corporation, or MCC, awards grants only to countries which rule justly, promote economic freedom, and invest in their people.
Oftentimes when you have the federal government or others step in and start to raise minimum wage, what happens is you take away or reduce some people's opportunity to grab the bottom rung of the economic ladder to get the opportunities and the skills that you need to move up that economic ladder.
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