The End of Poverty: Economic Possibilities for Our Time
Jeffrey Sachs
Language: English
Pages: 448
ISBN: 0143036580
Format: PDF / Kindle (mobi) / ePub
The landmark exploration of economic prosperity and how the world can escape from extreme poverty for the world's poorest citizens, from one of the world's most renowned economists
Hailed by Time as one of the world's hundred most influential people, Jeffrey D. Sachs is renowned for his work around the globe advising economies in crisis. Now a classic of its genre, The End of Poverty distills more than thirty years of experience to offer a uniquely informed vision of the steps that can transform impoverished countries into prosperous ones. Marrying vivid storytelling with rigorous analysis, Sachs lays out a clear conceptual map of the world economy. Explaining his own work in Bolivia, Russia, India, China, and Africa, he offers an integrated set of solutions to the interwoven economic, political, environmental, and social problems that challenge the world's poorest countries.
Ten years after its initial publication, The End of Poverty remains an indispensible and influential work. In this 10th anniversary edition, Sachs presents an extensive new foreword assessing the progress of the past decade, the work that remains to be done, and how each of us can help. He also looks ahead across the next fifteen years to 2030, the United Nations' target date for ending extreme poverty, offering new insights and recommendations.
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poor" of the planet. They all live in developing countries (poverty does exist in rich countries, but it is not extreme poverty). Of course, not all of these one billion people are dying today, but they are all fighting for survival each day. If they are the victims of a serious drought or flood, or an episode of serious illness, or a collapse of the world market price of their cash crop, the result is likely to be extreme suffering and perhaps even death. Cash earnings are pennies a day. A few
historical record, it is worth considering for a moment why the transition was so difficult in so many places. Most important, modern economic growth was not only a question of "more" (output per person) b u t also "change." The transition to modern economic growth involved urbanization, changing gender roles, increased social mobility, changing family structure, and increasing specialization. These were difficult transitions, involving multiple upheavals in social organization a n d in cultural
Joseph Stalin instituted in Russia ensnared roughly a third of the world's population, including the former Soviet Union, China, the Eastern European states under Soviet domination, Cuba, North Korea, and other self-styled revolutionary states aligned with the Soviet Union. Another great consequence of World War I was the prolonged financial instability it created in Europe after the war. The war created a morass of interlocking financial and economic problems, including the mountain of debt
make such investments. Economic growth enriches households, but it is not taxed sufficiently to enable governments to increase social spending commensurately. Or even when governments have the revenue, they may neglect the poorest of the poor if the destitute groups are part of ethnic or religious minorities. A third possible reason for continued poverty in the midst of growth is cultural. In many countries, women face extreme cultural discrimination, whether or not those biases are embedded in
remarkable degree of overlap, the same sites of the initial opening of the Chinese economy in the mid-nineteenth century after the Opium Wars. The major difference between the early and the more recent period was that in the mid-1800s, China was under quasi-colonial rule, whereas the current episode was a matter of sovereign choice. This made the legitimacy of today's free-trade zones vastly greater and the reforms much deeper. The idea of using key centers of industrialization as a strategy of