by Jeffrey D. Sachs
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Product Description
From one of the world's greatest economic minds, author of The New York Times bestseller The End of Poverty, a clear and vivid map of the road to sustainable and equitable global prosperity and an augury of the global economic collapse that lies ahead if we don't follow it
The global economic system now faces a sustainability crisis, Jeffrey Sachs argues, that will overturn many of our basic assumptions about economic life. The changes will be deeper than a rebalancing of economics and politics among different parts of the world; the very idea of competing nation-states scrambling for power, resources, and markets will, in some crucial respects, become passŽ. The only question is how bad it will have to get before we face the unavoidable. We will have to learn on a global scale some of the hard lessons that successful societies have gradually and grudgingly learned within national borders: that there must be common ground between rich and poor, among competing ethnic groups, and between society and nature.
The central theme of Jeffrey Sachs's new book is that we need a new economic paradigm-global, inclusive, cooperative, environmentally aware, science based- because we are running up against the realities of a crowded planet. The alternative is a worldwide economic collapse of unprecedented severity. Prosperity will have to be sustained through more cooperative processes, relying as much on public policy as on market forces to spread technology, address the needs of the poor, and to husband threatened resources of water, air, energy, land, and biodiversity. The "soft issues" of the environment, public health, and population will become the hard issues of geopolitics. New forms of global politics will in important ways replace capital-city-dominated national diplomacy and intrigue. National governments, even the United States, will become much weaker actors as scientific networks and socially responsible investors and foundations become the more powerful actors.
If we do the right things, there is room for all on the planet. We can achieve the four key goals of a global society: prosperity for all, the end of extreme poverty, stabilization of the global population, and environmental sustainability. These are not utopian goals or pipe dreams, yet they are far from automatic. Indeed, we are not on a successful trajectory now to achieve these goals. Common Wealth points the way to the course correction we must embrace for the sake of our common future.
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Average Customer Review:
1 of 1 people found the following review helpful:
excellent analysis and ideas, hurt by partisanship, 2008-06-23
Jeffrey Sachs has thought about many subjects at great depth, and writes about them with great learning and clarity. He seems to have thought about all the key points and many details. Could we do X about some problem? He's thought about it and has an opinion, or lots of them! I imagine he'd be a tough debating opponent.
His strongest material is about population, food and environmental destruction. Professor Sachs is both quite depressing and optimistic. He pulls no punches in calling out humanity for one sin after another, and the text moves right along in what is actually fairly dense content. You made read this as a survey of so many things that are going wrong. Even though I consider that the highlight, there are plenty of books raving about the environment. What Sachs offers that sets him apart from many others are his recommendations (although "recommendation" is a bit soft as a word for his energy) and his optimism that they will actually work and make a difference, at a cost that within range of discussion. A bit like those World War II posters: "Yes, We Can!"
He also rightly (in my opinion) emphasizes the critical role technology has played in advancing humanity's standard of living and how essential technology is to finding solutions. We must solve problems through brainpower and not pretend that a reduced standard of living for the west will somehow fix anything. Of course, Professor Sachs calls out technology for its negative impact and rampant destruction in the hands of humans. His balance is on the optimistic side for technology, partly through more institutional control over its application.
What I found somewhat unpersuasive was his optimism about Africa, that money and talent properly applied would really set Africa on the road to development. Sachs admits that geography is a major obstacle for Africa, but refuses to agree with those who argue that geography is destiny or so fundamental. I felt he underestimated the cultural factors in both donor and recipient countries, and over-estimated the capabilities of the UN. To be honest, I hope he is right.
Also unpersuasive were his secondary comments on America as compared to more socialist-like Scandinavians. That topic seemed a bit unnecessary and, while not exactly apples and oranges, he used some numbers that I felt distorted the argument. In a book that talks so cogently about poverty and its impact, it felt so wrong to say that 17% of American live in poverty because their income is less than 50% of the average, when that standard of living at the 50% of average in America is so high.
My strongest objection, however, was how Mr. Sachs took too many partisan shots that made him seem too petty and aggressive. Many of his arguments were so well stated that he didn't need to stoop to constant attacks against the Bush Administration. Yes, we all know Bush has been a terrible president. OK, we get it. Yet, when other administrations or politicians of the other side were behind debacles, such as his complaint about Vietnam or American foreign policies that have lasted decades or the lack of nuclear power as an energy option in the US, those responsible or leading the charge remain nameless. Mr. Sachs clearly can raise his game in that regard.
2 of 2 people found the following review helpful:
 Grandiose Solutions...But How Realistic?, 2008-06-20
My local church is devoting the next several months to promoting the UN's eight "Millennium Development Goals," which have been formally endorsed by the Episcopal Church USA. I read "Commonwealth" to get new insights about the many challenges, obstacles and opportunities we face in the 21st century.
Unfortunately, the author's conclusions left me feeling vaguely unsatisfied -- you could even say "intellectually malnourished." Jeffrey Sachs is no doubt a brilliant thinker who sees the big picture, but I question his sense of realism.
For example, when Sachs says, with great confidence, that there is plenty of fossil fuel to sustain continued global growth until at least the year 2100 -- I wonder if he reads the newspaper on a regular basis. The current spike in oil prices illustrates the dramatic political dangers inherent in today's world energy market. His calm prescriptions for transitioning to both liquefied coal and renewable energy forms doesn't seem to ring true. We may end up in a very dark place long before that happens (e.g., massive increases in hunger, regional wars, resource riots, etc.).
Much of the rest of the book makes good sense, but it's so general and broad as to be almost "untestable" in the real world. Saying we should invest in the development and adoption of environmentally sustainable technology is sort of like saying we should remember to breathe: "Yeah, OK, but give me some specifics here, Jeffery!"
Sachs comes off sounding like a politician who doesn't want to be held accountable for campaign promises, so he hedges every statement with a long-term perspective and a truckload of weasel words (implied disclaimers). It's not particularly honest, if you ask me.
In my research for the church program, I found MUCH MORE useful the list of 30 specific solutions developed by the Copenhagen Consensus 2008. They are hard-nosed, pragmatic and very testable. [...]
My advice for Sachs: Come down from the 60,000 foot view and give us "foot soldiers of change" something more useful -- something less cognitive and more practical.
1 of 2 people found the following review helpful:
Good, but Oversimplified!, 2008-05-23
Sachs begins by telling us that the 20th century saw the end of European dominance of global politics and economics, and the 21st will see the end of American dominance - probably within the first half. Simultaneously, we will also confront the challenges of sustainable development - protecting the environment, stabilizing population, narrowing the gaps between rich and poor, and illegal migration take center stage. Global cooperation, not unrestrained market forces and competing nation-states, will be required.
Forging national commitments and cooperation has proven hardest in societies divided by race, ethnicity and class, and native-born vs. immigrant status - eg. the U.S. Unfortunately, cooperation with the U.S. is also hampered by notorious acts of U.S. unilateralism such as the CIA-led Bay of Pigs invasion into Cuba, overthrows of Iran, Guyana, Guatemala, South Vietnam, and Chile, assassinations of numerous foreign officials, and unilateral wars or invasions in Central America, Vietnam, Cambodia, Laos, and Iraq. We have also influenced elections through secret CIA financing, and supported violent leaders who then came back to haunt us (eg. Saddam, Osama). (We have also done good things - eg. Marshal Plan, supporting the spread of ozone-depleting chemicals, etc.)
Sachs contends that averting climate-change devastation would cost less than 1% of the world's GNP, with implementing effective population control and wiping out extreme poverty would each add a cost of less than 0.1% GNP. He also believes that the U.S. portion could be easily funded through reducing military expenditures (20X that of the world average, on a per-person basis), and making existing foreign aid more effective (eg. less spent on expensive consultants and high-priced U.S. food). China must also be involved - it is now adding the equivalent of two 500 MW coal-fired plants/week, equivalent to the U.K.'s total each year, and if it reaches half the U.S. motor-vehicle density by 2050 they will have over 2X the U.S. total.
Dealing with global warming can be effectively accomplished at a cost of 1-5 cents/kwh where geology is favorable; Sachs also asserts that alternative energy sources would be even cheaper, though offers no documentation of this doubtful statement. Further, since he does not tell us how prevalent "favorable geology for sequestration" is, his overall claim is suspect as well. Regardless, it is interesting to learn that 19% of new CO2 comes from deforestation.
Some 70% of the Earth's surface water usage goes to agriculture. Dry lands have expanded from 15% to 30% since 1970, though again no documentation of this alarming claim is made. The major problem is our emptying underground reserves, and depleting rivers prior to subsequent nations having a fair share (eg. the Rio Grande vs. Mexico). One obvious solution is "more crop per drop" - drip irrigation.
Rich world nations added about 400 million inhabitants (50%) between 1950-2005, while the developing world added 3.5 billion (200%). Its clear where the emphasis needs to be placed.
Africa is particularly burdened by poor growing conditions, transportation difficulties, and rampant disease. The good news is that demonstration projects have shown how to multiply yields to 5X current levels. Sachs admits that little progress in adopting these methods has occurred, and suggests that lack of funds for fertilizer is a major factor holding back both Africa and India.
Besides increasing the levels and more effective use of foreign aid, Sachs also sees a major opportunity through involving the world's richest individuals. The wealth of the world's 950 billionaires totals $3.5 trillion - 5% of that each year would amount to $175 billion, greater than the amount given by the 22 governments representing one billion of the Earth's population. Sachs also believes university research contributions could be made more effective through emphasizing cross-disciplinary problem-solving rather than theoretical and compartmentalized efforts.
The problem with "Common Wealth" is that it slides over culture and politics - topics that others believe are primary determinants of economic progress. Changing the U.S. from its unilateral approach will be quite difficult; further, there is the previously referenced problem of getting individuals to change their habits. Finally, as also earlier referenced, some of its conclusions and recommendations lack credible documentation, and it lacks the urgency communicated by credible others regarding global warming.
0 of 1 people found the following review helpful:
 Necessary, 2008-05-20
Truly a must-read. I assure non-economists wary of econojargin: if you read books, this one's accessible enough for you.
The book sheds light onto the roots of the world's problems from a UN economist's perspective.
The complex web of cause and effect, and of problem and solution, occasionally seems to present contradictions, but it ultimately serves to reveal how complicated things truly are, and therefore, just how delicate, prescriptive, and adaptable the next generation of policies must be.
2 of 4 people found the following review helpful:
outstanding but also narrow views, 2008-05-07
this is one of four books that i would hope that our new president reads, assuming that he is capable. this book addresses, from a macroeconomic perspective, many of the issues that face our planet. it encourages cooperation among all peoples and countries. it discusses and identifies specific actions that can be taken to encourage our responsible addressing of global issues of the environment, pollution and global warming, education, poverty, basic infrastructure ... it does not address any possible capitalistic opportunities or opportunities for bringing capitalism or democracy to developing countries. in my opinion, sachs pretty persuasively calls for action on a global scale for many issues that we face. eruditic in nature, he is not the easiest read, but he dispels valuable treasures along the way that make turning and reading each page well worthwhile. i found one "statistical error" but, otherwise, free from typos, grammatical errors, or other errors, of course, i am not expert at the content. this is one of the few books over the decades that i am recommending to former professors.
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