I was disappointed that Jeffry Sachs was given such an uncritical platform on Counter Points. I thought more intense questioning from Taibbi and Grimm was warranted. I think he has a reputation for being self-serving although he has been supported by right wingers. On Counter Points he said that he got the Bolivian debt erased. In this r…
I was disappointed that Jeffry Sachs was given such an uncritical platform on Counter Points. I thought more intense questioning from Taibbi and Grimm was warranted. I think he has a reputation for being self-serving although he has been supported by right wingers. On Counter Points he said that he got the Bolivian debt erased. In this really true? Here is what Wikipedia says, "Sachs's suggestion for reducing inflation was to apply fiscal and monetary discipline[clarification needed] and end economic regulation that protected the elites[clarification needed] and blocked the free market[clarification needed]. Hyperinflation reduced within weeks of the Bolivian government instituting his suggestions and the government settled its $3.3 billion debt to international lenders for about 11 cents on the dollar. At the time, this was about 85% of Bolivia's GDP.[30][31]"
85 percent of Bolivia's GDP is a lot and did not bode well for the country. Is Wikipedia wrong? Did Sachs lie?
I was disappointed that Jeffry Sachs was given such an uncritical platform on Counter Points. I thought more intense questioning from Taibbi and Grimm was warranted. I think he has a reputation for being self-serving although he has been supported by right wingers. On Counter Points he said that he got the Bolivian debt erased. In this really true? Here is what Wikipedia says, "Sachs's suggestion for reducing inflation was to apply fiscal and monetary discipline[clarification needed] and end economic regulation that protected the elites[clarification needed] and blocked the free market[clarification needed]. Hyperinflation reduced within weeks of the Bolivian government instituting his suggestions and the government settled its $3.3 billion debt to international lenders for about 11 cents on the dollar. At the time, this was about 85% of Bolivia's GDP.[30][31]"
85 percent of Bolivia's GDP is a lot and did not bode well for the country. Is Wikipedia wrong? Did Sachs lie?