Common Wealth: Economics for a Crowded Planet-A Book Summary

Common Wealth: Economics for a Crowded Planet-A Book Summary

Introduction

Jeffrey Sachs has become the most renowned expert on economics and poverty in the world. In his new book, Common Wealth: Economics for a Crowded Planet, Sachs continues his personal mission to expose the economic and environmental crises that are facing our crowded planet. This paper presents a book summary of Sachs, Jeffrey's (2008) Common Wealth: Economics for a Crowded Planet in concise and comprehensive way.

Common Wealth: Economics for a Crowded Planet-A Book Summary

In light of current global crises with food shortages, economic meltdowns, rising gas prices and climate changes, Sachs appears right on point with the timing of this book. He focuses on four main issues: stabilization of a rapidly growing world population, stabilization of environmental degradation, alleviation of extreme poverty and addressing of global political stalemates. According to Sachs, these problems affect the entire planet and will ultimately have dire consequences for both rich and poor countries. The implication is that global cooperation must begin now (Sachs, 2008).

Sachs advocates a clear-cut plan of action that puts pressure on governments to make dramatic economic and public policy changes, instead of pursuing short-term solutions. Sachs also proposes market responsibility for the spread of technology, alleviation of poverty and environmental sustainability. He includes defined objectives, potential budgets and specific changes to existing policies. In his closing chapter, he provides small-scale steps that individuals can take to participate in a solution as well.

The author mentions that continued growth is both impossible and undesirable. Booming populations, exponential industrial growth, and the constraints of the laws of thermodynamics gave rise to arguments that current trends were not only unsustainable, but could lead to disaster and ruin by the next century if not checked. Exponential growth in population has been ...