Not a blog but a "q-and-a" (pronounced "quanda"), this page is about the basics of economics. Its premise: there are no stupid q's. And if some a's seem dim, take heart: I can brighten them up in response to objections, corrections, refinements. Comments on posts feature yours, and my responses. Enough of you now frequent and query the quanda that I post most every day. Haven't seen your q yet? Send it again. All a's should be taken with a shaker of sodium chloride, if not a Lot's-wife's-worth. And speaking of salt, the mustache and "hair" in the photo has a lot less of that condiment, and rather more pepper, than can be seen on TV. Think of it as time travel.
Paul Solman: When in Pittsburgh last week for the G-20 meetings, we interviewed Columbia University economist Jeffrey Sachs, 23 years after our first interview with him. In all these years, Sachs has been a champion of both the verities of market economics -- printing too much money causes inflation; privatization is the only alternative to a command economy -- and the hardships markets can visit upon the poor. As director of the Earth Institute at Columbia and head of the Millennium Project, Sachs has put his career where his mouth is and, as a result, is often plaintive about the world's disadvantaged, and the short shrift they so often receive.
It was surprising, then, to hear him on Friday as upbeat with respect to world economic cooperation as he was, there on the convention center terrace, overlooking several of Pittsburgh's innumerable bridges. An almost unedited version of the interview is posted here for your viewing pleasure.
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Jeffrey Sachs on the New World Economic Order
**Paul Solman:** When in Pittsburgh last week for the G-20 meetings, we interviewed Columbia University economist "Jeffrey Sachs":http://www.earth.columbia.edu/articles/view/1804, 23 years after our first interview with him. In all these years, Sachs has been a champion of both the verities of market economics -- printing too much money causes inflation; privatization is the only alternative to a command economy -- and the hardships markets can visit upon the poor. As director of the Earth Institute at Columbia and head of the Millennium Project, Sachs has put his career where his mouth is and, as a result, is often plaintive about the world's disadvantaged, and the short shrift they so often receive.
It was surprising, then, to hear him on Friday as upbeat with respect to world economic cooperation as he was, there on the convention center terrace, overlooking several of Pittsburgh's innumerable bridges. An almost unedited version of the interview is posted here for your viewing pleasure.
