From Market Economy to Pollitical Economy

Washington Post, Friday,November 28, 2008 page A29: "As economist Irwin Stelzer argues, we have gone from a market driven economy to a politically driven economy. On Nov.18,Secretary of Treasury Hank Paulson broadly implies that he is using only half the $700 billion bailout money. Having already spent most of his $350 billin, he is going to leave the rest to his successor.

Three political events: Citigroup bailout; the official rollout of economic team of President-elect Obama,Gaithner and Summers and Paulson would be ready to use the remaining $350 billion over the next two months. That undid the market swoon - and dramatically demonstrated how politically driven the economy has become. The ruling leaders would seize the commanding heights of the economy for the greater social good." Charles Krauthammer wrote such article.

My comment: When the leaders in USA and in China are working for the greater social good, I would like to endorse such noble cause to reach the public for socio-economics to be relevant. Perhaps we can detect the common interest of Sino-American Economics in the 21st century.

As we honor Abe Lincoln,we ought to remember:"With amity toward all;with enmity toward none." That is the American way and the confucian way as well.

Francis Shieh a.k.a. Xie Shihao,an admirer of Abe Lincoln,one of the great presidents of the United States. I wish President-elect Obama would be another good president to serve the best interest of America. Confucianism would guide the Chinese leaders to take action to the public i.e. common folks in China.

Friday, November 28, 2008 at 10.16 a.m.