As economists,namely Professor Lester C. Thurow of MIT who believes that such Act is a critically important step in rebuilding our economy by enhancing the voice of working folks in the workplace. Nobel Laureates Kennith Arrow and Robert M. Solow published in the same statement. Visit www.epi.org/labor policy. For details,read WashPost,Feb.25,09 on page A7. As a former economist with United States Department of Labor,I support such act as well. In "Western Economics"(1990) in the Chinese language,I cited Prof.Lester Thurow for our similar views. Such work can be seen at www.loc.gov(Library of Congress online catalog)for reference.
Washington Post,Feb.26, 2009 on page A18: Ricardo Caballero suggested that the government pledge to buy up to twice the number of bank shares currently available,at twice some recent average price, in five years. He is the Head of the Economics Department and director of the World Economics Laboratory at MIT.
What is needed is confidence in the government, the stimulus plan and the future. Here is the empirical evidence of Political Economy. Cf. "Keys for Economic Understanding" for labor market policy in USA. China's labor market policy is significant for economic growth as well. Globalization means interconnection of economics certainly even though economic recovery may be uncertain at this point.
President Obama lays out a bold agenda and the economic crisis has to come first. WashPost,2/25/09 on page A18. Such is the rationale of Hillary Clinton: stressing the closer relationship between USA and China in the days to come. Cf. www.Google.com and click on Sino-American Economics.
Henry Kissinger published "A Strategy for Afghanistan in the WashPost,,Feb.26,09 page A19:USA,Russia and China could be at risk as targets of jihadist Islam . Here is the common ground of Sino-American Economics in the military area.
President Obama nominated Gary Locke as the Secretary of Commerce,another American of Chinese ancestry,same as Secretary of Energy Steven Chu. Here is another evidence of the significance of US-China relations in fighting Terrorism. Moreover,North Korea has provoked the United Statges with missile launches and a nuclear test. China plays an important role with the common interest with the United States.
FED Chief Ben Bernanke says that recession could end this year. I hope he is correct in his economic forecast.However,Prof. John K. Galbraith left the legacy in saying: "There are those who don't know and those who don't know they don't know" in the discipline of Economic Forcast in the joking way.
Francis Shieh a.k.a. Xie Shihao on Thursday, February 26, 2009 at 3.30 p.m.
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