November 15th, 2011

Jonathan Kay: Jeffrey Sachs and the end of 30 years of Reaganomics

Interview with Jonathan Kay, National Post

In a new book, The Price of Civilization, rock-star economist Jeffrey Sachs argues that America’s economy is undergoing a major structural crisis. The biggest problem, he argues: Both of the country’s major political parties have become hostage to special-interest corporate lobbies. I sat down to talk with him in Toronto.

Jonathan Kay: Your new book is all about the United States. Do you think Canada is avoiding some of the mistakes on display south of the border?

Jeffrey Sachs: Canada is avoiding some of the pitfalls, but not all of them. Canada spends more money in the social sphere. It has less poverty and more social inclusion. But Canada is a hydrocarbon country – and has, in my opinion, shirked its responsibilities on global climate change.

Overall, Canada lies in between the United States and the countries I most admire: the northern European social democracies, which have gotten it best in terms of high productivity, high innovation, social inclusion and environmental sustainability.

Jonathan Kay: What do you think of the Republican leadership debates?

Jeffrey Sachs: The Republican Party has become the party of greed. It is heavily funded by the richest interests in the United States…

Read full interview in National Post.

 

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