Saturday, January 12, 2008

State of the Union will provide stimulus for US economy

WTOP Radio on Jan. 12,2008: President Bush will provide details of the stimulus package for US Economy. Let us wait for such decisive action soon.
Washington Post,Jan. 7, 2008 Editorial: Lifestyles of the Cultured i.e. At the Smithsonian, another bigwig was good to himself, with your money as the heading.
Former Deputy Minister Gao,Ministry of Culture in China stated that economics without culture is the economy with soul,the heading for his speech at the Library of Congress in December 2007.
My comment: When the leaders in USA/China have public interest as mindset instead of private interest only, the folks would respect them. However,if someone pays too much attention to his own vested interest,the public would not condone such selfish behavior. The truth will be out via public opinion in USA/China. I remember the line: If a person gains the whole world and loses his/her soul,he/she has nothing eventually because we are expected to make contributions in this mundane world. It would be wise to remember that our body will pass away but our soul will be immortal. Ethics and Morality should be stressed at home and in business school for the best interest of any society. There is the meeting ground of socio-economics i.e. both public interest and private interest may be balanced for an good economic society. Adam Smith was a professor of moral philosophy and Confucius/Mencius stressed morality and ethics in the field of moral education. Since the terminal degree in economics is Ph.D., Doctor of Philosophy, economics students should study moral philosophy in USA and in China as well. Food for thought for all economists. Francis Shieh,a lifelong student of economics. January 12, 2008

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