Americans are using copious amounts of electricity to power gadget-filled lives. That is the lifestyle to be reflected in applied economics in my way of thinking.
Page 34: Obama listens to David Cutler, Harvard Professor of Applied Economics. I am an advocate of applied economics. I would relate the economic happenings to be integrated to principles with relevance in my decades of teaching economics.
Harvard Professor of Economics Houthakker received a papal honor in 1970s and participated with Kennneth Arrow,Jeffrey Sachs, Amartya Sen in a Vatican symposium marking the centennial of "Rerum Novarum" a pronouncement on the state of the working classes. I studied such document at the University of San Francisco in 1947-1948 with fond memories. Prof. Houthakker developed "Consumer Behavior Theory" which is Micro approach in economics and I tried to develop "Work and Study Cycle Theory" with Microview of training with macro impact on unemployment as I had such vision in 1970s with recollection. Thoughts in the 20th century to be relevant to the realities in the 21st century as a student of economics.
David Blumenthal,a physician and Harvard Health Policy Professor. Health economics is related to Human Capital field of economics in the same ballpark of education and training for economic development in the positive way.
Page 60: The secret of wealth lies in real estate purchases which enabled Alan Carey to become a millionaire in his 20s. But the state of the economy has been changing...
Money-saving measure: Living off ramen noodles for 3 months but not good for health due to chemical ingredients. I recommend Chinese food,inexpensive but nutritious.
Jimmy Carter has been named as " an idiot savant." (sic) I would strongly demur. Carter is a good person,indeed!
Smithsonian Institution has exhibits on China until June 2008. Worth seeing!
National Geographical Magazine,May 2008 issue has special feature articles on China. Worth reading such inside stories with photos.
Francis Shieh,an octogenarian reader with focus on USA and China in economics et al. April 25 2008 at 7.40 a.m.
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