Three key elements from UN economist to improve the global outlook

Jeffrey Sachs, US economist and president of the UN Sustainable Development Solutions Network, attended Tecnológico de Monterrey’s Mexico City campus to offer an outlook on the current situation in Mexico and the world.

During his talk “Global Crises and the Role of Multilateralism and Technology,” Sachs highlighted three key opportunities in education, science, geopolitics, and sustainability, as well as the importance of pointing out these opportunities to improve the social and economic conditions of different countries.

“We’re not about to collapse, nor are we doomed by climate crisis; this could be a period of really great economic progress. We could progress economically quite rapidly thanks to the technology we now have at our disposal,” he said.

1.- Education and science in Mexico

Regarding education in Mexico, the expert advised that the country should invest at least two percent of the national GDP in research and science projects.

“For students to make it to university level, GDP in research and development should be at least two percent. Currently, research in South Korea accounts for about five percent of GDP and about three percent in the United States.

“This is the best way to invest national money in science and technology, and universities should help develop an ecosystem of startups so that these same startups can then become incubators for high-level companies,” he said.

2.- Sustainability in North America

On sustainability issues, Sachs highlighted the relationship between Mexico and other North American countries, as well as the opportunity to collaborate to build a more sustainable future with the help of technology.

“In this next presidency, we have the best opportunity to design a carbon-free energy system with the US and Canada. Economic success depends on this regional integration and Mexico is the only country in the world that is part of both the North and Latin American markets.

“In the coming years, I would like to see Latin American and Caribbean countries also adopting a flexible political and economic environment to develop this same type of green energy,” the economist said.

“Mexico is the only country in the world that is part of both the North and Latin American markets.” - Jeffrey Sachs

3.- Geopolitics in 2024

Lastly, Jeffrey Sachs talked about the current political situation between various countries, and how these conflicts could be resolved quickly if the two sides were willing to discuss and address the issue.

“I propose that we could solve all these global problems quickly in a reasonable way without being unjust to anyone.

“The UN will have a summit of the future, where they could establish a path to solve these problems and decide how to address the issue of war and peace, financing, and the climate issue.”

About Jeffrey Sachs

Jeffrey Sachs is an American economist internationally renowned for his strategies to solve global issues such as extreme poverty, climate change, economic reforms and financial crises.

He has written books on economics, globalization, and sustainable development and is currently Director of the Center for Sustainable Development at Columbia University and President of the United NationsSustainable Development Solutions Network.

Miguel Ruiz Cabañas, ambassador and full professor at the Santa Fe campus, highlighted the importance of sharing the space with an economist of international relevance.

“Jeffrey Sachs is one of the most distinguished academics in the world today and has written numerous New York Times bestselling books.

“It was very generous of him to come to Tec de Monterrey, more so to share his knowledge with our students,” said Ruiz Cabañas.

The talk with Jeffrey Sachs was open to students and professors at Mexico City’s School of Social Sciences and Government and was attended by Juan Pablo Murra, Tecnológico de Monterrey’s Rector for Higher Education.

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