10. November 2020
Sachs fetches an article from the “New Yorker” magazine from 1990 and reads aloud: “As we took a table in the hotel’s cafe, I asked Sachs whether he worried about coming polarization of wealth. And I said, look: I’m no particular fan of Milton Friedman or Margaret Thatcher or Ronald Reagan’s version of the free market in the United States terms. I’d be identified as a liberal Democrat, and the country I admire the most is Sweden.”
Sachs: I believe in the value of a social market economy, or a social democratic economy, which means a market economy that is governed by the rule of law — and with social institutions that guarantee universal rights for health, education, the environment and social protection. This requires a mixed economic system with a strong role of government playing its role in social services, environmental protection and fostering the rule of law.