The Harvard Debt Doctor's Controversial Cure

Harvard Debt Doctor's Controversial Cure

To Jeffrey Sachs, the glaring gap between rich and poor in Latin America is a major cause of the debt crisis that has racked the region. The boyish Harvard & economist, an adviser to debt-ridden countries from Bolivia to Poland, blames wealthy Latin elites for dodging taxes and arranging self-serving subsidies that have "sucked the blood" from many governments, forcing them to borrow heavily.

That blunt diagnosis is typical of Sachs, 34, an economics wunderkind who was a tenured professor at 29 and has become a champion of debt relief for developing countries. He first gained renown for his advice to...

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