I heard Jeffrey Sachs on Business Daily on BBC World Service last night.

[Pacifist Patriot]

Unfortunately, I came in towards the end of the interview. At first I was a little irritated with the interviewer who kept asking questions in a manner that would seem to support the right-wing economic view point, but then realized it gave Dr. Sachs the perfect openings to rebut "trickle down economics." They may not be using the term much anymore, but that's what it is. Something we know doesn't work. At all.

The interview focused heavily on corporate tax structures and I couldn't believe I didn't see it for myself. He's completely right. From a narrow point of view, lowering corporate tax would seem to be a decent way to attract business, but then all nations starts doing it to compete internationally so from a global perspective it is a headlong race to the bottom. It's a reverse arms race. How low can we go?

He also made another very good point that can pretty much be summed up in one word. Ireland

Although Time has named him among the 100 most influential leaders in the world a couple of times, he really doesn't get nearly as much attention as he deserves. I've read his books and he has me hooked.

I guess this post is simply a massive thanks to Prof. Jeffrey Sachs. I was delighted to turn on the radio and hear him speak, he really is a voice of sanity in an increasingly insane world.

Edited to Add: If you haven't read Commonwealth or The End of Poverty, I highly recommend his works.

[malaise]

1. 100% correct

He's completely right. From a narrow point of view, lowering corporate tax would seem to be a decent way to attract business, but then all nations starts doing it to compete internationally so from a global perspective it is a headlong race to the bottom. It's a reverse arms race. How low can we go?

Hubby said that ages ago - he said it becomes even worse when the ReTHUG wingnuts pit state against state in one country.

It's Econ 101

[Pacifist Patriot]

3. I confess I didn't do so well in Econ 101....

but then I've got a hopelessly liberal arts brain. If it's got a number associated with it, one side of my head goes numb. :-) I think that's why I love Prof. Sachs so much. He's brilliant AND can explain it to nimrods like me in a way we can understand.

[madrchsod]

2. bbc overnight is the best world info source in the usa.

[Pacifist Patriot]

4. It's the only news I can stand to listen to these days.

It has its drawbacks, but it beats the hell out of U.S. MSM.