Professor Jeffrey Sachs
Columbia University professor Jeffrey Sachs is urging the Government of Jamaica and other Caribbean administrators to adopt development models similar to those used by China and Singapore, to accelerate economic growth.
Speaking via Zoom to an audience at the University of the West Indies recently, Professor Sachs, author of The End of Poverty and the Price of Civilization, argued that governments in the region should combine market activity with strong central planning, rather than relying mainly on macroeconomic stability while leaving growth strategy to the private sector.
He said China used that blended approach to lift roughly 1.4 billion people out of absolute poverty while Singapore achieved average annual growth of about 7 per cent between 1961 and 2024 and 4.8 per cent last year.
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