Jeffrey Sachs facts for kids
Quick facts for kids
Jeffrey Sachs
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Sachs in 2019
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Jeffrey David Sachs
November 5, 1954 Oak Park, Michigan, U.S.
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| Spouse(s) | Sonia Ehrlich Sachs |
| Institution | Columbia University |
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| School or tradition |
Keynesian economics |
| Doctoral advisor |
Martin Feldstein |
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| Contributions | Millennium Villages Project |
Jeffrey David Sachs (born November 5, 1954) is an American economist. He is a professor at Columbia University. He is known for his work on how countries can grow and develop in a way that lasts. He also focuses on how to help end poverty around the world.
Sachs leads the Center for Sustainable Development at Columbia University. He is also president of the UN Sustainable Development Solutions Network. He helps the United Nations (UN) Secretary-General António Guterres with the Sustainable Development Goals (SDGs). These are 17 big goals adopted by the UN in 2015 to make the world better.
From 2001 to 2018, Sachs was a special advisor to the UN Secretary-General. He also advised on the earlier Millennium Development Goals (MDGs). These were eight goals to reduce extreme poverty, hunger, and disease by 2015. He became an advisor in 2002 during Kofi Annan's time as Secretary-General.
Sachs helped start Millennium Promise Alliance. This is a group that works to end extreme poverty and hunger. He also led the United Nations Millennium Project from 2002 to 2006. This project focused on reaching the MDGs. Sachs has written many books and received several awards for his work.
Contents
Early Life and Education
Jeffrey Sachs grew up in Oak Park, Michigan. This is a town near Detroit. His father, Theodore Sachs, was a lawyer for workers. Jeffrey went to Oak Park High School.
He then attended Harvard University. He earned his first degree there in 1976. He continued his studies at Harvard. He received his Master's and PhD degrees in economics. His PhD paper was about how countries adjust their economies.
Academic Career
Working at Harvard University
In 1980, Sachs started teaching at Harvard as an assistant professor. He quickly became an associate professor in 1982. Just one year later, at age 28, he became a full professor of economics at Harvard. This was a very fast rise.
He spent 19 years teaching at Harvard. During this time, he held important roles. He was the Galen L. Stone Professor of International Trade. He also directed the Harvard Institute for International Development.
Working at Columbia University
Today, Sachs is a university professor at Columbia University. He leads the Center for Sustainable Development there. From 2002 to 2016, he directed the Earth Institute at Columbia. This group works on big global problems. They look for ways to help the Earth and support lasting development.
Sachs teaches classes at Columbia. His course "Challenges of Sustainable Development" is for college students.
Helping Countries with Economic Plans
Jeffrey Sachs has given advice to many countries. He helps them with their economic policies.
Helping Bolivia
In 1985, Sachs was asked to help Bolivia. The country had very high inflation, meaning prices were rising super fast. It was up to 14,000%! Sachs suggested a plan to control prices and cut government spending. He believed his plan could stop the inflation quickly.
Even though the politician who asked him lost the election, Sachs's plan was still used. Prices in Bolivia quickly became stable. His ideas helped Bolivia reduce its huge debt to other countries.
Helping Countries After Communism
In 1989, Sachs advised Poland. This was when Poland was changing from a communist system to a market economy. He helped create a plan for this big change. His ideas helped Poland move quickly to a capitalist system. This meant more private businesses and less government control.
Poland faced some challenges at first, like shortages and inflation. But prices eventually settled down. Poland honored Sachs in 1999 for his help. He also advised Russia as it changed its economy.
Sachs's quick methods for fixing economies became known as "shock therapy." This was similar to how Germany recovered after the world wars.
Work on Global Development
Since his work in former communist countries, Sachs has focused on global issues. These include economic development, reducing poverty, and protecting the environment. He has written a lot about climate change and controlling diseases. He has worked since 1995 to help reduce poverty in Africa.
In his 2005 book, The End of Poverty, Sachs wrote about Africa. He said that Africa's governments struggle because the continent is poor. He believes that with the right plans, extreme poverty can be ended in 20 years. He points to India and China as examples. China helped 300 million people escape extreme poverty.
Sachs says a key step is to increase aid to poor countries. He also suggests better farming methods. This includes using improved seeds and fertilizers. He thinks this could greatly increase food production. More food means more income for farmers.
He also supports programs that offer small loans, called microcredit. These loans help people start small businesses. Sachs also promotes giving out free bed nets. These nets protect people from malaria, a serious disease. He believes controlling malaria is a smart investment.
Sachs is also a founder of the World Happiness Report. This report looks at how happy people are around the world.
Millennium Villages Project
Sachs directs the Millennium Villages Project (MVP). This project works in many African countries. It helps over 500,000 people. The project aims to show that poverty can be ended with focused efforts.
The MVP has faced some questions. Some critics have wondered if the project's methods were truly responsible for improvements. However, Sachs continues to advocate for these types of large-scale interventions.
After the Millennium Development Goals (MDGs) were set in 2000, Sachs led a group on health. This group helped get more money for healthcare in poor countries. He also worked with the UN to create The Global Fund. This fund fights AIDS, Tuberculosis, and Malaria. He also helped create programs to fight HIV/AIDS and malaria.
Sachs was a special advisor to UN Secretary-General António Guterres. He strongly supports the 2015 Sustainable Development Goals. These goals build on the earlier MDGs.
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As a UN advisor, Sachs often meets with world leaders. He has also worked with famous people like Bono and Angelina Jolie. They traveled to Africa with him to see the progress of the Millennium Villages.
Sachs has sometimes criticized the International Monetary Fund. He believes some of their investment plans have not worked well.
Personal Life
Jeffrey Sachs lives in New York City. His wife is Sonia Ehrlich Sachs, who is a pediatrician. They have three children together.
Awards and Honors
Jeffrey Sachs has received many awards for his work.
In 2004 and 2005, Time magazine named him one of the "100 Most Influential People in the World." The New York Times called him "probably the most important economist in the world" in 1993.
In 2005, he received the Sargent Shriver Award for Equal Justice. In 2007, he was given the Padma Bhushan. This is a very high honor from the government of India. He also received the Centennial Medal from Harvard University. This was for his important contributions to society.
In 2007, Sachs received the S. Roger Horchow Award for Greatest Public Service. This award honors private citizens who do great public service.
Sachs has advised many important organizations. These include the World Health Organization (WHO) and the World Bank. He is also a member of the American Academy of Arts and Sciences.
In 2015, Sachs won the Blue Planet Prize. This award is for people who help solve global environmental problems. In 2017, he and his wife received the first World Sustainability Award. In 2022, Sachs was awarded the Tang Prize for his work in sustainable development.
See also
In Spanish: Jeffrey Sachs para niños
