Unthinkable: Jeffrey Sachs Warns United States Could Face Soviet-Style Collapse
SputnikNews.com
03.11.2016
American economist Jeffrey Sachs is no stranger to Russia, having served as an advisor to the Yeltsin government as it attempted to transition to a market economy after the collapse of the Soviet Union. Now, the academic warns that the United States may follow the USSR’s path to ruin, if it doesn’t scale back its military adventures and spending.
In his latest piece for the Boston Globe, Sachs explained that for economists, “the single most important issue in allocating national resources is war versus peace, or as macroeconomists put it, ‘guns versus butter’.” Unfortunately, he suggested, “the United States is getting this choice profoundly wrong, squandering vast sums and undermining national security.” In fact, Sachs noted, “if our next president remains trapped in expensive Middle East wars, the budgetary costs alone could derail any hopes for solving our vast domestic problems.” And that’s not even mentioning Washington’s competition with Russia in Europe and China in the Pacific.
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