Jeffrey Sachs: Why America needs a new economic direction

Boston Globe – Over the next several weeks, I will explore the economic choices facing the United States and its relations with the rest of the world. The election season obviously makes this timely, yet the real choices facing our country will not be settled in November. The debates will take place over many years. We had best become informed about our real choices, dilemmas, and opportunities.

My contention is that with the right choices — far better choices than we’ve been making recently — America’s economic future is bright. Indeed, we are the lucky beneficiaries of a revolution in technologies that can raise prosperity, slash poverty, increase leisure time, extend healthy lives, and protect the environment. Sounds good, perhaps too good to be true; but it is true. The pervasive pessimism — that American children today will grow up to worse living standards than their parents — is a real possibility, but not an inevitability.