Things like the proposed tech tax are actually a very good idea. The specific form of it is debatable, but the idea is that five companies are worth $3.5tn, basically because of network externalities and information monopolies, and therefore are absolutely right for efficient taxation... The marginal cost of production of AI is effectively zero. The ability to make these technologies available to the poorest countries at no cost is an evident option. So we should be taking special care to make sure that this revolution can reach everybody.
- Jeffrey David Sachs
The Panama Papers opened yet another window on the global system of financial corruption, showing how political leaders and businesses use shell companies in secrecy havens like the British Virgin Islands and many US states to evade taxes and hide corruption and other crimes. Yet the system of corruption depends on another factor beyond secrecy, one that is perhaps even more important: impunity. Impunity means that the rich and powerful escape from punishment even when their malfeasance is in full view.
- Jeffrey David Sachs
The Panama Papers opened yet another window on the global system of financial corruption, showing how political leaders and businesses use shell companies in secrecy havens like the British Virgin Islands and many US states to evade taxes and hide corruption and other crimes. Yet the system of corruption depends on another factor beyond secrecy, one that is perhaps even more important: impunity. Impunity means that the rich and powerful escape from punishment even when their malfeasance is in full view.
- Jeffrey David Sachs
The world economy is pumping trillions of dollars into the accounts of a few thousand people. These riches should be directed first and foremost to end the millions of needless deaths caused by extreme poverty, and to educate the hundreds of millions of children who lack schooling. The billionaires would still have enough left over to indulge their longing for mega-yachts, personal space ships, private tropical islands, and other conspicuous consumption.
- Jeffrey David Sachs
How do we get to zero by 2050, not only in the U.S. but also in Europe, China, India and the rest of the world? We need to move rapidly to zero emissions while keeping the energy system functioning robustly and reliably during the transition. It’s a massive transplant operation requiring the greatest skills of our top engineers and power-grid operators.
- Jeffrey David Sachs