Adam Smith is known for his famous work "The Wealth of Nations",which describes wealth creation in a competitive commercial economy dominated by market's invisible hand, has long been appropriated by conservatives but anathema to the liberals. Read the statements by Presidential candidates and learn economic realities in USA. It should be pointed out that Smith had another work entitled "Theory of Moral Sentiments" and Smith was a professor of moral philosophy.
What do we value in our life? Money, Morals, Immortality? Our lives are filled with everyday queries of fact and finance. Which investment brings the highest return? What will the candidate actually do when elected in November 2008? The basic issue is morality. Would values transcend cultural difference between the East and the West? Can we have ethical values without religion?
Such examination of philosophy would challenge us in our encounters of our way of life. Here we would be able to find the common ground of Sino-AmericanEconomics.
Inflation is the common problems in the USA and in China for consumers to pay higher prices for food and fuel. What would be the rate of economic growth in USA in 2008 and 2009 to be compared with the rate of growth in China. The World Bank has published estimates for this year and next year for competitive comparisons of Sino-AmericanEconomics in the positive and negative scenarios from purchasing power parity. The answer depends upon the view of the readers.
Francis Shieh a.k.a. Xie Shihao,a student in the pursuit of Economics for making comparisons as cultural enrichment from acts of human behavior of peoples in USA and in China. The final judgment is up to the readers from my blogging with queries. April 9, 2008 at 9.35 p.m.