The End of Poverty: Economic Possibilities for Our Time

Optimistic to the point of being simplistic

Way too optimistic, reviving outdated theories of the '50s and '60s (esp Rostow), forgetting all about the reality of evil, corruption, injustice, both of the rich and of (leaders of) the poor and forgetting almost all about participation, empowerment and advocacy, assuming that macro scale economics are the same at micro (village) scale. Just a small example: one of the main ideas in the book is: give villages a big push, so that they can start climbing the economic ladder. Increased economic activity leads to increased taxes which leads to increased public services, which helps increase economic activity. The first causal relation overlooks the fact that 80-90% (to sometimes 100%) of economic activities in African villages take place in the informal economy, where there are no official tax systems. The second causal relation overlooks (as said above) the fact of corruption. The example of Nigeria (enough income through oil exports, and corruption not mainly at the lower ranks but even at the very highest rank) shows that corruption is not a matter of need because of lack of money. The milleniumvillages approach is, as a friend of mine said 'thinking big inside the box'. I have not yet met people who have lived in an African village for an extended period of time (more than just a honeymoon time of 3 months) who believed Sachs' methods are workable. Is it a case of 'give it a try'? Well, you are working with people, impacting their mentality and worldview. It's not a business which if it goes bankrupt you just say 'I've tried, let's start another'. I agree though, with someone who said: Sachs is the best fundraiser of the age. he is performing well in that area.

6 out of 6 people found this review helpful.

A must for understanding world development

If one is interested in world development, economics, or international studies than this is the book to read. Jeff Sachs really opened my eyes and helped me to understand the world in a manner I had not previously understood.

2 out of 3 people found this review helpful.

Must Reading for Every American Classroom

At 50 fewer words than Lincoln's Gettysburg Address, I'd make these powerful facts from Jeffrey Sachs a memorization requirement for every student in America. These 235 words were issued by him on ABC's 'This Week,' Sunday, March 13, 2005: 'There are still about a billion people that are struggling for survival every day, extreme poverty that is so unrelenting that it means chronic hunger, it means disease, and it means early death. 'That kind of extreme poverty afflicts about one sixth of the planet. 'The amazing thing is that we live in an age of such scientific and technical know how, and in an age when prosperity is spread to so many places that we can really envision the end of extreme poverty within our generation by the year 2025. 'This can be done through the practical steps of helping the poorest of the poor to be empowered to grow more food, to be healthy, for the children to grow up with the proper education, and to have the basic means to be productive members of the world economy. 'The rich countries have said that they would give seven cents out of every $100 of their income, just that little amount, 0.7 percent, seven cents out of $100, to the poorest places on the planet to help them grow more food, have safe drinking water, have the children in school, be able to fight the diseases like AIDS, TB, and malaria. If we do that, we will succeed. 'We haven't done it yet. I think we will do it because it really is the bargain of the planet. It's the bargain of the century.'

2 out of 3 people found this review helpful.

Useful, if flawed, study of poverty

Jeffrey Sachs is special adviser on the UN's Millennium Development Goals to UN Secretary-General Ban Ki-Moon. The Goals are to halve extreme poverty by 2015 and end it by 2025. Sachs points out that $27 billion a year could save eight million lives. Three million people die every year of malaria, which is preventable and treatable.

He recounts his work in Bolivia, Poland, Russia, China, India and Africa. He notes, "today's development economics is like eighteenth century medicine."

He attacks the IMF, writing, "The main IMF prescription has been budgetary belt tightening for patients much too poor to own belts." It still always says, "cut welfare spending, privatise, liberalise, pay your debts". In the 1990s, the IMF (and the EU) refused to reschedule Yugoslavia's debts, pushing it into chaos and war.

The G7 hurt Russia by opposing support for the rouble, aid for the poorest, and debt cancellation. The G7 backed what Sachs calls 'the massive theft of state assets under the rubric of privatization', 'selling' $100 billion of Russia's oil, gas and other resources for just $1 billion.

Sachs argues for the public sector to provide health services (particularly anti-malarial bed nets, vaccines, contraceptives, antiretroviral medicines and oral rehydration therapies), education, railways, water and sanitation, and for public controls to prevent overfishing, pollution, logging and deforestation.

He argues strongly against privatisation and against 'social marketing', i.e. charging user fees for health, education, water and sanitation. He urges cancelling the debts of highly indebted poor countries and strengthening the UN.

He observes that the world's nations could easily reach the Millennium Development Goals - if the rich countries paid the aid, 0.7 per cent of their GNP, that they have been promising for 35 years.

So why are his good and humane policies not being applied? What stands in the way? The money is there. $3 trillion went on the Iraq war. $50 billion a year went on Bush's tax cuts for the USA's super-rich - more than enough to pay the US share of reaching the Goals. (Sachs, absurdly, writes, "the reason for this dramatic shift toward the rich is not really known.")

He writes, "There is nothing in economic reasoning to justify letting the companies themselves set the rules of the game through lobbying, campaign financing, and dominance of government policies." No, but this is what they do: capitalist states act in capitalism's interests; economics is not separate from politics.

We must face facts - the block on reaching the Goals is what another economist called the furies of private interest, the greed of the capitalist class. Sachs admits that opposition comes from 'the political bosses in the United States and Europe', but he ignores the opposition from the employing class.

The fatal flaw in his programme is his belief that the Goals can be reached while living with capitalism. We will never reach the Goals, until we stop capitalism misruling us all.

1 out of 1 people found this review helpful.

Good book

This is a very good book. I highly recommend it.

1 out of 1 people found this review helpful.

A Different Perspective Based on Depth

This book does have some points that I disagree with but overall, it gives some specific insights into the complexities behind poverty. The traditional, 'one-approach-fits-all' approach to trying to help a country or region out of a negative financial cycle doesn't work. There are so many variables to an impoverished nation, that a clinical approach is required specific to that situation. Many books in this realm take a simple liberal approach such as 'the rich countries simply don't give enough' or 'poverty begets violence' and not the opposite in the latter case. Sachs does his honest best to be fair in my understanding of this book. Finally, his comments and assessment of the IMF are 'spot on'. The IMF, World Bank and UN are amongst the many organizations that need to reorganize and retool to be effective.

1 out of 1 people found this review helpful.

2+2 is truly 4

I had my reservations about this book from the start. My initial resevations turned into alarm when I found out that the book was foreworded by Bono (there is always something to say about an academic's self-esteem if he turns to a music celebrity for endorsement some might argue it is a sagacious marketing ploy though but I find call it insecurity). On the first 80+ pages of the book the author provides the 2+2=4 version of economics which completely misses the audience as it seems to be too non-inclusive for the uninitiated and completely redundant in its simplicity for those with a background in economics. One important thing to remember is that Sachs didn't set out to write a cursory overview of a balanced approach to the eradication of poverty but was agenda-driven from the get-go. There are several items on his agenda: (1) advocate for external debt cancellation for ... well, basically, anyone state which wants it, (2) smear the work of the IMF in all its applications, (3) the world's poverty is, in one way or another, the developed countries' -- particularly the West's -- fault which he considers to be a debt owed to the developing ones. The rest of the book is a kaleidoscope of Sachs' personal travelog (which sometimes gets entertaining for what it is) and the continued lambasting of the West for everything that is wrong with the present economic -- and sometimes political -- situation of the developing world. In these assessments Sachs gives the reader a polarized view of world politics, a matter in which he does not cut an imagine of an astute expert. Examples of this are legion throughout the book. One thing that comes to mind is Sachs' portrayal of the Renamo as 'violent' and tacitly supported by the US and South Africa while, I presume, assuming that the USSR-bankrolled Frelimo were angels pillaged by the evil forces of the Renamo. Anyone who has studied the Mozambique conflict for half a day knows that this wasn't the case and that there is a wealth of scholarship attesting to the fact that both the Remano and the Frelimo were equally brutal and committed horrific acts of atrocity. The author, however, gives no credence to these assertions of others because they don't fit his agenda which is to smear the West and its foreign policy. Another glaring example of such misrepresentation is Sachs' reference to the African slave trade which he determines as having existed for 300 years, a totally untenable argument since it is a well-established fact that slave trade in Africa was started by Africans, not Europeans, to which Europeans were late-comers and contributed, some argue, not more than 10% to it. Slave trade in Africa continues to this day and is powered by Africans themselves. There are literally thousands of NGO reports to this effect, which Sachs chose to ignore because they don't work for his agenda. If you absolutely have to get this book, get it on audio and get it over with while on the road. Otherwise, there are plenty of quality titles on economics, history of conflict, history of international organizations and other topics that this book purports to deal with. Go with those, particularly if you are not yet in a position to tell scholarship from demagoguery. I got a tremendous kick out of this book for all the wrong reasons ¿ I merely enjoy misguided arguments too much, particularly when they come from esteemed Harvard scholars, to miss this pearl.

1 out of 2 people found this review helpful.

A leading economist explains how society can end poverty

This is an excellent book by one of today¿s most prominent development economists. Jeffrey D. Sachs has been at the forefront of the most significant economic turnarounds - for better or worse - of the past quarter century. He helped end hyperinflation in Bolivia, advised Poland on its emergence from communism, and counseled Russia, China and Africa. On the basis of his extensive research and experience, he concludes that conventional economic solutions ignore some of the key factors responsible for poverty. Borrowing a page from physicians¿ diagnostic procedures, he shows how noneconomic factors can have economic implications. Along the way, he exposes the lamentable hypocrisy of the developed world and the institutions allegedly working for the development of the poor world. As an adviser to the leadership of the United Nations, Sachs believes that organization should be strengthened. He is not a dispassionate economist and doesn¿t pretend to be. He has a plausible case to make and he presses it hard, maybe now and then too hard, in this effort to convince the prosperous that effective help for the impoverished is practical, at least under some circumstances. We believe his well informed, heartfelt book belongs on the reading list of anyone who hopes the world can become a better place.

1 out of 1 people found this review helpful.

GREAT BOOK

The End of Poverty: Economic Possibilities for Our Time by Jeffrey D. Sachs is an amazing award-winning economic piece of literature. By using such heart-wrenching examples such as the poverty stricken youth in areas such as Russia and Bolivia. By using strong world examples to convey normally boring economic facts, Sachs uses a common writing device to educate the masses.
With plentiful usage of charts, diagrams, and textual examples, Sachs clearly brings his points across, leaving not much room for inference. By sticking to his topic despite the many stories he tells, Sachs shows that even economics can make for an interesting read.

The End of Poverty made me think

We all know poverty is a problem, but for those of us who live in privileged societies, we often forget it about it, it doesn't hit close enough to home. We feel bad that poverty exists, but it is not necessarily our personal problem. Sachs challenges our complacency on so many levels that there's no way we can ignore reality. He hits us not only with compelling statistics but with real-world here and now solutions. Sachs posits that solving extreme poverty is not about creating lofty academic governance models but about investing in the basics - water, sanitation, disease control. And he shows us that the cost of doing so is not as daunting as we might think. If you're into reading about ways we can individually help povery and other social problems, you'll want to read this.

He is missing the big picture

A basic assumption is made in this book that I do NOT think is completely accurate. That assumption is that it is a bad thing that millions of poor people are dying. If the land they live on now can not be made to feed them. Then how is that land going to feed them when you lower the infant mortality rate and increase the live expectancy of adults. You start with an area with one million starving Africans, sent lots of help, wait 20 years and now you have 10 million starving Africans. I fail to see how this is progress. You now have ten million people fighting over the scarce resources instead of one million. I am not one of those fanatical believers in the population bomb theory, but some areas of the world just can not support the populations living on it. Which by necessity require the rest of the world to feed them. As cruel as it may seem to be, it just may be the best thing for some areas to decrease in population through natural means. This is especially true in areas of the world where the main goal in life of most adults seems to be having fifteen kids.

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School Project

In Jeffrey Sach¿s bestseller The End of Poverty, he gives his own plans away about ending extreme poverty with a little bit of the world¿s help. He explains the economic situations the world, and what exactly we can all do to pitch in and help those who are less fortunate by far. The story actually starts off by comparing different countries economic status, from rich too poor, and then escalates into a source for information on Jeffrey¿s plan to achieve global satisfaction. In conclusion Jeffrey¿s plan would end extreme poverty worldwide by the year 2025. What I found most intriguing about the story is that most poor countries have received a lot more help than expected. Even though Sub-Saharan numbers of extreme poverty have doubled, the birth rate is very high. Most surprisingly, Eastern Asia had the biggest number of extreme poor in 1981 and has dropped from 800 million to less than 300 million, lower than the total of sub-Saharan numbers in 1981. From my perspectives, I have great hopes for the world to come and I think that Jeffrey¿s plan was well though and should make a break for the world¿s poverty. Who knows, maybe we can achieve contentment internationally sooner than we think.

Climbing the ladder of Economics

This book takes you on a journey through the early developments of economic success and the current status of many of the impoverished nations. The various countries that Sachs focuses on and analyzes helps to create a visual understanding of his concept of the 'economic ladder'. While ending extreme poverty isn't the easiest idea to grasp, Sachs does offer various ideas and goals to help ensure this possibility. This book clearly shows a wide spectrum and demonstrates how an analysis of a particular economic problem is key to providing a solution to it. I highly recommend this book to all, whether it be someone who has a a small interest, or well informed economist.

¿The End of Poverty¿ ¿ authored by Jeffery Sachs

The perception of ¿good governance¿ in Ethiopia ¿ A Critical Commentary By Adinew Zeleke ¿The End of Poverty¿ by Jeffery Sachs, is an interesting book wherein a practical roadmap is charted to alleviate world poverty. This moving book provides a touching account of the abysmal economic realties of Africans and the world¿s poor in general. Professor Sachs challenges the developed and wealthy nations of the world to provide the necessary resources and investments direly needed to combat global poverty and to facilitate economic growth in the poor nations of the world. Economic growth, according to Jeffery Sachs, can be achieved by helping the poor of the poor to ¿place their foot on the first rung of the ladder of development¿. So he appeals to the wealthy nations of the world to make the requisite investment which is exceedingly needed to provide at least a stepping-stone for poor countries of the world to be lifted out of poverty and economic deprivation. Professor Sachs not only provides practical ideals for poverty eradication but also follows through with concrete action plans for implementing his remarkable vision. Professor Sachs indicates that the ¿world is not a zero-sum game in which one country¿s gain is another¿s loss, but it rather a positive-sum opportunity in which improving technologies and skills can rise living standards around the world¿. As we can see in our world today, growth and increased living standards are attained through participation in the global economy, thus, the poor of the poor must be part of the development process in order to escape poverty. Without the poor nations of the world participating in the global economy, poverty eradication will continue to be a daunting task or downright unachievable. Fast growing economies of Asia such as Bangladesh and India are cited as examples where dynamic economic developments are fostered by helping poor of the poor to ¿place their foot on the first rung of the ladder¿ towards poverty eradication and economic growth. Professor Sachs is quite an idealist and an exemplary voice for the poor and the impoverished. Among other great ideas and action plans formulated by Professor Sachs, the African Free Trade Opportunity Act which offered African states access to the US market for textile exports was initiated by Prof. Sachs. He is an advocate for the poor-of-poor and for those in need of a helping hand in the fight against poverty. ¿The End of Poverty¿, by Professor Jeffery Sachs, is indeed a must reading. On the other hand, Professor Sachs believes that the primary cause of the poverty in poor countries, such as Ethiopia, is the lack of resources rather than the lack of good governance. ¿The End of Poverty¿ identifies Ethiopia a one of the countries of the world where ¿good governance¿ is making a difference. In a stark contrast to this perception, the economic and political realties demonstrate that there is a lack of good governance in Ethiopia. The lack of good governance, corruption, wasted resources, numerous costly and wicked decisions made, opportunities squandered, and the overall ineffectiveness of the administration are the primary factor for our economic predicaments, social problems and downhill path to a disaster. In view of these facts, majority of Ethiopians and a number of foreign scholars profoundly differ with Professor Sachs on his opinion regarding the existence of ¿good governance¿ in Ethiopia. This is not to say that the problems of Ethiopia, or Africa as a whole for that matter, are not directly related to the lack of resources, physical geography and pandemic diseases such as Malaria, TB, HIV and the like as Professor Sachs indicates. The Writer, Adinew Zeleke, resides in the Washington D.C. Area azeleke@cox.net

Hmmm

This book is really two books in one - the first part, detailing the education and experience of a developmental economist, is a fascinating retelling of Sachs' experience advising the governments of Bolivia, Poland, etc. The second part, the argument in favor of ending poverty is fascinating and impassioned but at times wrong-headed, for example, in its excessive reliance upon the corrupt and discredited United Nations, gratuitous swipes at the Bush administration, etc. On balance, an important, interesting, impassioned but somewhat flawed book.

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