The price of civilization: reawakening American virtue and prosperity
by: Jeffrey D. Sachs
Veteran macro-economist Sachs directs the Earth Institute at Columbia University and has served as a special adviser to the United Nations. In this book for general readers, he uses the concept of ‘clinical economics,’ which he coined and developed in his book The End of Poverty, to diagnose America’s current economic crisis. Sachs argues that we are not facing a short-term business cycle downturn, but the working out of long-term social, political, and economic trends perpetuated by both political parties (although the author notes that the process of undermining the government’s capacity to steer the economy began with the Reagan administration). Sachs gives ideas for deep reform of America’s political and economic institutions, such as ending the corporatocracy, banning campaign contributions from lobbying firms, and decentralizing government. He also recommends that we as citizens embrace moderation and develop compassion for others.
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