From memory Jeffrey S has talked about it elsewhere. He first went to Poland and helped them reorganise their economy transition using a loan from the US (possibly IMF, not sure). When he tried to do the same in the USSR he was told (by the US State Department, I think) this was not possible without giving him any reason. I think Ritter is too hard on him (he probably doesn't know all these details). No idea why they don't talk to each other.
Whenever I see Sachs, now, I always just think of his “shock therapy” doctrine for the Russian economy. Not only how could he have been such a destructive c*** but also how could Russian leadership have possibly fallen for it? Talk about not understanding the enemy.
I just assume Sachs speaks the way he does now out of remorse, much as Profumo cleaned toilets for the rest of his life. It is a very unusual form of remorse, however, since remorse typically comes from the kind of error that results in self-destruction, something Sachs did not experience.
Re: Shock therapy …
Posted by t on July 11, 2024, 12:30 pm, in reply to "Shock therapy …"
.. how could he have been such a destructive c*** ..
In general I consider him a humane character from various interviews I've seen of him these days. In one of the interviews, I think it was on the Duran, he said what happened (in case you haven't read my scribble above). He was the chief advisor to Polish government on the transition of their socialist central planning economy to capitalism. It required having a substantial loan to smooth things over. Apparently it worked. When advising the USSR he used the same formula except that he was told bu US that the loan was not forthcoming, no reason given. Obviously the septic vultures were a-gathering and the rest is history. I believe him.
on July 10, 2024, 5:16 am