Jeffrey Sachs Quotes on Money & Wealth (8 Quotes)

If the whole world went into recession, all the major central banks could cut interest rates and expand the money supply.

We're going to have to forgive a great deal of the Soviet era debt. There's no question about that. Let's face up to that. We're going to have to put in money if Russia is really going to consolidate a democracy.

If you have billions and billions of dollars coming due in a country in a short period of time, and if a sense of panic develops among your creditors, so that everybody demands the money out all at once, it's almost inevitable that the debtor economy will collapse, because it won't be able to come up with that amount of money in a short period.

The great leaders of the second world war alliance, Franklin Roosevelt and Winston Churchill, understood the twin sides of destruction and salvation. Their war aims were not only to defeat fascism, but to create a world of shared prosperity.

If we did go into a recession, something that's always possible for the U.S. or Europe, we could lower interest rates and expand the money supply without worrying about the price of gold.

I'm focusing on a world divided between rich and poor, and a world that doesn't seem to be able to manage the natural base of our lives air, oceans, or biodiversity. It's a mistake to think that globalization is automatically beneficent and should run its due course-but also to think that it ought to be shut down.

If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days.

We've taken the view that if the rest of the world would democratize and create market economies, that would spread the benefits of prosperity around the world, and that it would enhance our own prosperity, and our own stability and security, as well.