Washington Post,Nov. 16,2008 in Outlook Section B1:
It was in January 2000, Prof. Bernanke explained why he had always loved macroeconomics. "What make his chosen field so compelling, were the extreme and dramatic events. It covers inflation and financial crises. This dramatic aspect always appealed to me." He said. It is so true in my mind as well.
I concur with Prof. Bernanke 100% as I have been attracted to Economics since I was at St.John's University in early 1940s. I taught Macroeconomics for more than 4 decades in USA and in China from 1950s to 2007. In August 1978,my article entitled "Macroeconomics of Stabilization" was published by the White House Conference on Balanced Economic Growth and I contributed to the textbooks by Richard T. Gill of Harvard and George Bach of Stanford in 1970s and 1980s. "Keys for Economic Understanding" is listed at www.Amazon.com and www.ask.com for reference.
The ultimate test of economic success is the contribution which economic activity has made to the goal of human happiness. Happiness is not material consumption over desire but I add intellectual pursuit, spiritual satisfaction and good health as the numerator above the line in a fraction over the desire as the denominator in the "Equation of Happiness." Thanks for reading with your endorsement or otherwise. Have a nice day!
Francis Shieh a.k.a. Xie Shihao, a student of economics forever on Nov.17,2008 at 7.12 a.m.
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