The End of Poverty: Economic Possibilities for Our Time

Sachs takes on the counterarguments to investing the funds necessary to end extreme poverty. As the chapter title implies, he asserts that all these arguments are misguided, misinformed, or otherwise missing the point.

The problem, however, is that many believe myths about the causes of poverty and the likely effect of investing to eradicate poverty. They run the gamut from the idea that any aid to Africa is money down the drain because it would fail to the idea that “economic freedom” is the best means of solving the problem.

Sachs’s argument up to this point has largely addressed the problems in this chapter, but they are directly and painstakingly refuted here, one after the other.

The refutation relies on the types of considerations used throughout the book. For example, in refuting the “magic bullet” that we need not worry about extreme poverty because increasing our own wealth will supposedly be a “rising tide that lifts all boats,” Sachs exposes the lie to this concept by citing the prior discussion of African geography, which has a lot to do with why those in sub-Saharan Africa do not necessarily benefit from increased sea trade.

In the penultimate chapter Sachs takes on “the American investment decision to back military rather than other approaches to international relations” following September 11 (329). In so doing, the chapter provides a more general justification for Sachs’s goal of eliminating extreme poverty within a generation.

Sachs observes that Americans frequently overestimate the amount of foreign aid the United States gives. At the same time, they falsely believe that the US military can create security for Americans without stabilizing other parts of the world. Third, Sachs decries the view held by some that we are entering a period of war between cultures. He maintains that the evidence demonstrates that poverty elsewhere in the world is linked to threats to US national security and that, politically, there is general support for addressing poverty among US voters.

The chapter also discusses, in some detail, evidence that economic failure frequently causes a state to fail. Although that is not the only reason states may fail, Sachs buttresses the point with evidence linking economic security with a higher probability of developing robust democratic institutions of government.

From there, the chapter surveys the United States’ promises of aid that remain unfulfilled, along with opportunities to meet those unmet objectives and to end poverty. Ultimately, the chapter concludes that ending extreme poverty is the key contribution that Sachs’s generation can make to the world to achieve meaningful long-term improvement of the human condition.

The final chapter connects Sachs’s goal of ending extreme poverty with Enlightenment ideas of republican government, an economy that benefits the people, aspiration toward global peace through international governance, and emphasis on science and technology to improve quality of life. All these goals, Sachs explains, were conceived of by Enlightenment thinkers as forms of social progress that should be universal.

Sachs places his goal as the appropriate extension of the Enlightenment ideals upon with the United States was founded. In other words, ending extreme poverty is the means of carrying forward Enlightenment ideals into “our generation.”

Having situated his goal of ending poverty, Sachs turns to the arguments raised by the antiglobalization movement that gained attention during protests in Seattle in 1999. Although he identifies with the “legitimate moral outrage” of the movement, preferring it to what he calls the “complacency of the rich” (355) evident in national governments and institutions like the IMF, Sachs maintains that their targets are misguided. Rather than opposing multinational corporations per se, Sachs argues that those concerned with the negative impacts from globalization to date should focus on developing an “enlightened globalization” going forward.

From there, Sachs surveys historical movements for social improvements, drawing inspiration for the challenge that he poses for his generation. He briefly discusses the end of slavery, the end of colonialism, and the civil rights movement to place his call in the tradition of them.

Finally, Sachs outlines the next steps required to realize his vision. These range from a “[commitment] to ending poverty” to “[raising] the voice of the poor” and “[rescuing] the IMF and the World Bank” (366). Further, while Sachs calls for a specific plan of action, and proposes one in this book, the next steps that he envisions also include broad aspirations such as “[promoting] sustainable development” and “[making] a personal commitment” (367).