Energy and food problems need global solutions, says Sachs

Any one of the problems that economist Jeffrey Sachs takes on would be daunting by itself: finding sustainable energy sources to avoid environmental destruction; stabilizing world population; ending extreme poverty and creating a new system for global cooperation.

Yet Sachs, who directs the Earth Institute at Columbia University, tackles all four in his new book, called “Common Wealth: Economics for a Crowded Planet.”
He argues that finding solutions to these interconnected problems is not only possible, it’s inexpensive, and would take just 2 to 3 percent of the world’s annual income. He talked about a few of his ideas during a visit to Seattle. Below is an edited transcript.

Q: How dangerous a point has the world reached?

A: We’re unprepared for the changes that are taking place in the world; the soaring energy prices and food prices are an example of this. We have economic systems and strategies inconsistent with how fast the global economy is changing, how interconnected food and energy systems are. We’re way behind the curve in terms of the sustainable development challenge. The chances for crises are very high because we haven’t been thinking ahead.

The odd thing is the Bush administration says we need to wean ourselves off oil dependence, but they’ve done absolutely nothing to get the technologies in place. The amount we’re spending, $200 billion a year on the Iraq war, dwarfs the $3 billion a year we’re spending on alternative energy. It’s not a question of money but how we’re allocating it.

Q: Is the appetite for fixing global problems diminished when people in the U.S. see our own systems failing?

A: I think when you think about energy and food prices soaring, those are things that can’t be fixed by ourselves. Food prices reflect a worldwide imbalance of supply and demand. We’re going to have to do this globally.

Seattle Times