Globalization and Poverty

Background

Jeffrey David Sachs (born November 5, 1954, in Detroit, Michigan) is an American economist and Director of the Earth Institute at Columbia University. He is the Quetelet Professor of Sustainable Development at Columbia's School of International and Public Affairs, a Senior Advisor for the Australian-based Global Poverty Project and a Professor of Health Policy and Management at Columbia's School of Public Health. Also, he is Special Advisor to United Nations Secretary-General Ban Ki-Moon,

and the founder and co-President of the Millennium Promise Alliance, a nonprofit organization dedicated to ending extreme poverty and hunger. 2002 to 2006, he was the Director of the United Nations Millennium Project Millennium Development Goals, eight internationally sanctioned objectives to reduce extreme poverty, hunger, and disease by the year 2015.Originally one of the youngest economics professors in the history of Harvard University, Sachs became renowned for implementing economic shock therapy throughout the

developing world, and subsequently for his work on the challenges of economic development, environmental sustainability, poverty alleviation, debt cancellation, and globalization. He has authored numerous books and articles on these subjects, including The End of Poverty and Common Wealth, both New York Times bestsellers. He has been named one of Time Magazine's "100 Most Influential People in the World" twice, in 2004 and 2005.

Words and Expressions

randomly

lacking any definite plan or order or purpose; governed by or depending on chance

e.g. This energy, called heat energy, is randomly distributed among the atoms.

temperate zone

the part of the Earth's surface between the Arctic Circle and the Tropic of Cancer or between the Antarctic Circle and the Tropic of Capricorn; characterized by temperate climate

e.g. Collectively, the prices in developing countries can alter the world prices of temperate zone products.

underpinning

a support or foundation, especially a structure of masonry that supports a wall etc

e.g. The underpinning knowledge and skills may be assessed on or off-the-job.

impoverishment

the state of having little or no money and few or no material possessions; the act of making someone poor

e.g. In short, if there is technological advance without social advance, there is, almost automatically, an increase in human misery, in impoverishment.

bypass

avoid something unpleasant or laborious

e.g. He bypassed his colleagues on the board and went ahead with the deal.

shutter

a mechanical device on a camera that opens and closes to control the time of a photographic exposure ;a hinged blind for a window ;close with shutters

e.g. The house was empty and shuttered.

marvel

something that causes feelings of wonder; be amazed at

e.g. It was a real marvel that the baby was unhurt when he fell from the fifth floor.

stagnation

a state of inactivity (in business or art etc) ; inactivity of liquids; being stagnant; standing still; without current or circulation

e.g. This country had now entered upon a long period of stagnation.

static

not active or moving; not in physical motion; concerned with or producing or caused by static electricity; showing little if any change

e.g. House prices, which have been static for several months, are now rising again.

deteriorate

become worse or disintegrate; grow worse

e.g. Relation between the two countries has deteriorated sharply in recent weeks.

hot spot

a place of political unrest and potential violence; a point of relatively intense heat or radiation; a lively entertainment spot

e.g. Vietnam became a hot spot in 1960s.

prudence

discretion; carefulness; knowing how to avoid embarrassment or distress

e.g. The happy ones impute all their success to prudence or merit.