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Harvard Professor Jeffrey Sachs Sets Charlie Rose Straight On Our Current Economic Predicament And How To Get Past It

October 22, 2011

Argument for changing course

Jeffrey Sachs: “… I advocated a ten-year scenario in which we would totally rebuild infrastructure not with “shovel-ready projects” that would last a year, but with proper, cutting-edge, 21st century projects that would require at least a decade to complete.

Charlie Rose: But how long would it take for those kinds of things to kick in and change the economy?   

Jeffrey Sachs: Probably four or five years, to begin to see really deep change. But if you just do gimmick, gimmick, gimmick, you end up, after three or four years, having changed very little.  “

I saw the Charlie Rose interview and was very impressed by Jeffery Sachs. “We no longer collect enough tax revenues, as a share of our national income, to have a civilized nation,” says it all.

Sachs ties society’s needs to our economic woes, instead of separating the two the way politicians have done lately. We cannot compete on a global scale until we re-energize, through massive funding infusions, our education system. The longer we wait, the longer it will take to get back in the game. There is no other way out. If lower taxes were the answer to our predicament we would be the wealthiest, most educated nation on earth with the fastest growing economy.

You would think that people would have figured out by now that we are butting our head against a fence that is not budging. All we are getting is a bloody head. We need to try something different. We needed educated people who are creative problem solvers, and think independently, if we want America to be strong.

I appreciate the way Sachs takes Obama to task for not doing enough of what he promised to do, while at the same time, admitting that he sees no alternative to supporting him since the alternative is so much more frightening. Why is it always against the worst choice, never for the best?

Richard Clark Article on OpEdNews:

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