For more than a quarter century, Sachs, described by The New York Times as "probably the most important economist in the world," has advised governments around the globe on progressive policy. In the clip, he analyzes our own system in the U.S. and reflects on the fifth anniversary of the Citizens United Supreme Court decision.
The U.S. did not apply the knee-jerk capitalistic model of mobilizing competition. Had we succumbed to that model, the government might have offered grants and other incentives to encourage individual scientists, universities, private and publicly held companies to compete in a race to develop the bomb -- with benefits to the winner.
So, there sat Ufani School, atop a grassy knoll with its bright blue walls shining and glass windows glinting in the East African sun. The teachers could work in a solid building, and the students could prepare to pass their secondary school entrance exams at extraordinarily high rates for rural Tanzania. Yet, that wasn't enough.
The deep pain and tragedy of unintended consequences are experiences that Stockman and Sachs share, and that they each carry with them to this day. We need them to write about that, because that is where they have the greatest insight to offer, and the side of their stories that people most need to understand.