John Taylor,Professor of Economics at Stanford University said: "The theory that a short-run government spending stimulus will jump start the economy is based on Keynesian theory(same as I sent my previous blog) The modern complex and dynamic economy would need something else? I would maintain human behavior of the leaders in charge. When the public interest is placed above the private interest,the result would be satisfactory otherwise problems would arise for too much private gain.
To me, economics should be a subject of morality and ethics as Adam Smith understood decades ago and Confucius/Mencius would certainly concur with proper human conduct for leaders in any nation.
According to Census Bureau,37.3 million residents i.e. 12.5 % of the population lived below the poverty line which is currently $21,200 for a family of four. Economists say the total is sure to rise over the coming years leading to reach 47 million as projected.
Page A25: The British Prime Minister Gordon Brown asked China to give money to IMF in October 2008. What does that mean? China is able to do so?
Washington Times,Nov.25, 2008: Page A10: For a rough road ahead -Soup for lunch for some folks in USA. Actually,folks in China are eating soup quite often for lunch as far as I know as a student in China since 1926 in the 20th century.
Francis Shieh a.k.a. Xie Shihao,an octogenarian reader to share news with other readers. Nov.25,2008 at 2.15 p.m.
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