ALWAYS WITH US.(The End of Poverty: Economic Possibilities for Our Time)(Book Review)

On July 9, 1985, a thirty-year-old American economist named Jeffrey Sachs stepped off a plane in La Paz, Bolivia, high in the Andes, where the inflation rate was three thousand per cent. Prices were rising so fast that on the streets of the capital people were frantically trading bags of depreciating pesos for dollars. Sachs, one of the youngest tenured professors in the history of the Harvard economics department, had established himself as an authority on inflation and international finance, and was someone who, in his own words, "thought that I knew just about everything that needed to be known" about his subject.

It was Sachs's self-confidence that had earned ...