Washington Post,March 4, 2009 on page A15:- To cite an article below: -
Harold Meyerson wrote: Who You Calling Socialist?
"American capitalism is about to be supplanted not by socialism but by a more regulated,viable capitalism." Personally, I see the increasing role of the public sector but the private sector is more significant for economic growth. Both are to be found in USA and in China as well as I have witnessed so far as a student of economc systems since 1940s.
"Judging by the failures of the great Wall Street investment houses and the worldwide crisis of commercial banks; the death rattle of the US auto industry; the plunge of stock markets everywhere; the sickening rise in global joblessness; and the growing shakiness of governments that caused a more social capitalism on the horizon." I would see the positive and negative externalities in Socio- economics. Economics is designed to serve any society as I see it.Cf.An article by John K. Galbraith,Nov.1989 issue of Economic Commentary for comparisons.
Francis Shieh a.k.a. Xie Shihao,an octogenarian Fulbright Senior Scholar on March 4, 2009 at 12.42 p.m.
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