The End Of Poverty By Jeffrey Sachs
‘The End Of Poverty: Economic Possibilities of our time’ by Jeffrey Sachs explores the possibility of the end of extreme poverty in the world. The book dwells on three main issues. He looks at the main causes of poverty in the world and the place of the rich nations in making policies that can eradicate poverty and finally looks at the reality of a poverty free world. This work is a compilation of years of experience as an economist having worked at various fronts, an experience that has given him an opportunity to look at the issue from various points of advantage. This has made him express himself in the eloquence and understanding he has written this book. Sachs is even daring enough to state that this can be achieved in twenty years.
The End of Poverty: Economic Possibilities of Our Time
Sachs looks at the living conditions of the poorest persons in the word. In the first chapter he gives various reasons why this population is living in this pool of misery. In his assessment, the poorest of the poor live in a vicious cycle of poverty and disease (Sachs, 31).
This situation is caused and compounded by the fact that they have no access to basic infrastructure. This has cut them out from the rest of the world. Further their condition is worsened by the environmental stress they are living in as well as political instabilities they have to bear with. This further closes them out from medical technological and educational advancements (Sachs, 343).
The book aims at pulling this population from the cycle of poverty they are currently living in. Jeffrey has given nine steps which ones implemented will get this people from the level of subsistence existence to start the journey of economic stability and predictability (Sachs, 59).
Despite the fact that his plan rides on the actions of the rich nations, this is in no way away from the promises these nations have made in the past or out of their ability. According to Sachs for instance, America will only need to raise her foreign aid from the current 0.14 % of her GDP to 0.7 %. This is not ‘hand out’ as it has been traditionally known. According to Sachs, this is a global investment, where for instance America will be investing in global security. This will translate in to further economic growth for her.
In his analysis Sachs educates the world on the economics of globalization including why the world is better embracing globalization that fighting or wishing it away (Sachs, 75).
The End of Poverty also focuses on the increased role that the giant world financial institutions should play in ending poverty. Here the United Nations, The World Bank and International Monetary Fund are on the spot. The book puts on their shoulders more responsibilities to assure the world of an end to extreme poverty. Her he also explores the reality of the existence of extreme poverty in extreme wealth (Sachs, 146).
It is not the sole responsibility of the rich nations to end poverty. According to Sachs, even the poor countries have a role to play to rid them of the curse of extreme abject poverty. The poor nations have an enormous role to play but it is not one that they can not manage. It is also at this point that he breaks various long held myths about poverty giving the issue a new direction (Sachs, 89).
Even though The End of Poverty gives very disheartening statistics, it illuminates the future for the fighting poverty. It gives hope that the war can be won. Sachs raises various strong political cases as well as moral and economic issues. He challenges individuals and nations to increase their commitment to fight poverty. If the zeal with which wars are fought was deployed in fighting poverty, then the war would long have been won.
This is a marvelous book that simplifies the fight to end poverty. The book places the fighting of poverty the top on the priority for all humanity poor or rich (Sachs, 408).
Jeffrey Sachs’ experience as a scholar and economic advisor to both to the individual nations as well as to the United Nation has borne one of the greatest books on eradicating poverty in the 21st century. This is a piece of practical examples that if implemented could eradicate from the face of the earth the curse of poverty. He has proposed to the willing people and nations hard choice that they have to make to see an end to poverty.
He forwards reasonable and solid argument that brightens the path for the fight against poverty. The book combines optimism and passion to deliver the possibility of a world free of poverty. This is a must read for anyone passionate about fighting poverty.
Sachs, J, (2005), The End of Poverty, Penguin Press: London.