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Common Wealth
Book

Common Wealth

Economics for a Crowded Planet

Jeffrey D. Sachs
Penguin, 2009
First Edition: 2008
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Editorial Rating

9

Qualities

  • Innovative

Recommendation

Famed economist Jeffrey Sachs manages to deliver pessimistic news in an optimistic way. Yes, the Earth faces dire threats from global warming, poverty, war, deforestation and mass extinctions. Yet Sachs asserts that these severe problems are manageable. Fixing them will cost $840 billion – a massive amount indeed, but, as Sachs argues, only 2.4% of the rich world’s gross national product. Sachs doesn’t shy away from politically touchy pronouncements. He argues against the U.S. war in Iraq and for legalized abortion. Still, throughout the fray, his book strikes the unlikely balance of delivering a message that’s both frightening and promising. getAbstract recommends this book to anyone seeking insight into the world’s most pressing problems.

Summary

The World’s Economy and Ecology Teeter on the Brink

The world has become an ever-more crowded, chaotic and dangerous place. Global populations are soaring, particularly in poor nations least able to feed and support burgeoning numbers of people. The global ecology is teetering near collapse. The global balance of power is shifting. As the 20th century marked the end of European dominance, this century will see the end of U.S. hegemony. China, India and Brazil are emerging as world powers. And America’s misguided forays into Vietnam and Iraq have proven the folly of unilateral decision making based on brute force. As things now stand, the world easily could plunge into a toxic brew of bloody conflict, abject poverty, natural disasters and widespread suffering.

To avoid this fate – which is likely if the world continues on its current path – world leaders must accept the fact that everyone on the planet shares the same plight. Rich nations can no longer ignore poor nations. The free market is no longer the best and only solution. Unfortunately, the risks are grave. Fortunately, solutions are at hand. Climate change and planetary catastrophes loom, yet sustainable systems...

About the Author

Internationally known economist Jeffrey Sachs directs The Earth Institute at Columbia University. He’s a special adviser to United Nations Secretary-General Ban Ki-moon on the U.N.’s Millennium Development Goals. Sachs also wrote The End of Poverty.

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