As Propostas de Jeffrey Sachs

Jeffrey Sachs faz um apanhado das políticas macroeconômicas dos últimos 40 anos, e propõe algumas para Obama. Ele está correto quando diz: "The U.S. economy is spiraling downward into recession and gargantuan budget deficits. The Fed pumped up the economy for years and encouraged the reckless overlending and overborrowing for housing and consumer credit, all in the name of keeping the economy growing. (Remember, after all, how George Bush encouraged us to shop as the patriotic response to 9/11). A country that sustains zero or negative household saving rates for years and borrows heavily from abroad is bound to pay a heavy price and that time has come for the United States. But even worse, while the housing and consumption bubbles were ballooning and the Iraq war was bleeding lives and money, a range of other crucial challenges—environment, energy, infrastructure, inequality, global poverty—were all neglected. Now, the macroeconomic and structural crises are coming to a head simultaneously".