July 1, 2001
Talking to Jeffrey Sachs, the bane of the developing world's financial establishment, is refreshing. He may be right or wrong, or just plain eccentric, but Sachs is that rare thing these days - an outspoken contrarian. In his customary blunt style, he argues that Argentina's $29.5 billion debt exchange in June that averted a financial collapse has actually highlighted many of the deficiencies in the way Latin American countries run their economies, the way they finance themselves and the way they see their futures.
He says the region's leaders have rarely thought deeply enough about the future of their countries, partly because they are too busy
Harvard's Jeffrey Sachs argues that Argentina's brush with economic collapse should force everyone involved with Latin America to reconsider the merits of free market orthodoxy.