A Quote by Jeffrey Sachs
The basic idea was that if a country would put its economy as an integrated piece of the world system, that it would benefit from that with economic growth. I concur with that basic view.
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Basic would never have surfaced because there was always a language better than Basic for that purpose. That language was Joss, which predated Basic and was beautiful. But Basic happened to be on a GE timesharing system that was done by Dartmouth, and when GE decided to franchise that, it started spreading Basic around just because it was there, not because it had any intrinsic merits whatsoever.
When you've got a economy in which 40 percent of economic growth is happening in the financial sector, that turns out that was all an illusion, that it wasn't growth based on real products and services, but just a bunch of paper shuffling and a house of cards, then what's gonna emerge, at some point, is a sense of resentment, a sense that the system's rigged, and it's not working for ordinary people. And it's not fulfilling the basic American dream.
I do agree that the science is not settled on this. The idea we would put Americans' economy in jeopardy based on scientific theory that is not settled yet to me is nonsense. Just because you have a group of scientists who stood up and said this is the fact... Galileo got outvoted for a spell. To put Americans' economic future in jeopardy, asking us to cut back in areas that would have monstrous economic impact on this country is not good economics and I would suggest is not necessarily good science.
A basic is an introduction. A fundamental is a foundation. A fundamental is a premise, idea, or fact that an entire system arises from and is based on. A fundamental determines the shape of what arises from it, much as a foundation of a house dictates its layout. A basic is how you introduce people you are teaching to the system. It is a beginning concept, often simplified to assist learning. If a fundamental is the foundation, a basic is the front door to enter the system.
I believe in a real democratic system, with a state of law and freedom of the press. I believe in a free, open-market economy integrated with the world. And I believe in equality of opportunity. Those are my basic beliefs. On top of that, of course, I believe in some moral values.
The idea of an isolated American painting , so popular in this country during the thirties, seems absurd to me, just as the idea of a purely American mathematics or physics would seem absurd... And in another sense, the problem doesn't exist at all; or, if it did, would solve itself: An American is an American and his painting would naturally be qualified by the fact, whether he wills or not. But the basic problems of contemporary painting are independent of any one country.
Every country in the world protects its economy except the E.U. We would restore economic sovereignty and decision-making to France. We would protect strategic industries, and we would protect vital areas such as the energy sector. But we would not cut ourselves from the world. There could still be trade.
I would be remiss, as a scientist who studied this, if I didn't mention the following two things: The first is that, most importantly, we need to do, as a society, in this country and globally, whatever we can to reduce population"....."Our whole economic system is based on growth, and growth of our population, and this economic madness has to end.
I think basic disease care access and basic access to health care is a human right. If we need a constitutional amendment to put it in the Bill of Rights, then that's what we ought to do. Nobody with a conscience would leave the victim of a shark attack to bleed while we figure out whether or not they could pay for care. That tells us that at some level, health care access is a basic human right. Our system should be aligned so that our policies match our morality. Then within that system where everybody has access, we need to incentivize prevention, both for the patient and the provider.
It was basic research in the photoelectric field-in the photoelectric effect that would one day lead to solar panels. It was basic research in physics that would eventually produce the CAT scan. The calculations of today's GPS satellites are based on the equations that Einstein put to paper more than a century ago.
The notion that there is no basic value system is far more incoherent or invalid than the notion that there are essential values. Every religion can tell you it has basic values. You ask a Christian, most Christians would say love God and love your neighbor. Is that the entirety of Christianity? No one in his right mind would say it is.
If women had better access to the financial system - even so much as a basic deposit account at a bank - it would be a major step in the direction of greater wealth and greater economic empowerment.
Every single human being is creative and maximizing that creativity is critical to happiness and economic growth. Economic growth is driven by creativity, so if we want to increase it, we have to tap into the creativity of everyone. That's what makes me optimistic. For the first time in human history, the basic logic of our economy dictates that further economic development requires the further development and use of human creative capabilities. The great challenge of our time is to find ways to tap into every human's creativity.
But as you say, the fundamental stumbling block is the question of the future of the economy. And it's not just the sort of economic laboratory question, of what kind of system would best generate growth, which is the way it's presented.
Contrary to popular belief, we do not face a choice between economy and ecology, It is often said that protecting the environment would constrain or even undermine economic growth. In fact, the opposite is true: unless we protect resources and the earth's natural capital, we shall not be able to sustain economic growth.
This is a basic requirement the meaning of globalization is that we should admit that the economy of each country is dependent on the economy of all the others.
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