"Economist" July 24, 2009 issue: The selected passages below for reflections:
A newly prominent field of behavioral economics on page 11. I believe in human behavior as a major factor in Economics.
Page 12 : Economists and Social scientists, trying to understand the real world.
Comment:The real world of the people such as PRC.
Economics is "Jingji" in Pin Yin. "Jingshijimin" 4 Chinese characters to indicate global concern for the folks on earth.
Page 65: Nobel Laureate Paul Krugman said"We are living through a dark age of macroeconomics in which the wisdom of the ancients has been lost. Perhaps we should remember Adam Smith as a professor of moral philosophy. Confucius/Mencius should be studied as well as ancient sages.
Andrews Lo of MIT suggested cause and effect studies. That mean ETIOLOGY as I sent my prior blogs. He also stated "reconciling adaptive market hypothesis" as LINGONOMICS as the previous blogs as well.
Page 67: "The seismic events of the past two years were a blow to credibility but may prove to be a spur to creativity."
Comment: Economics should be creative thinking,moving with the times re changes and choices of lifestyles and ethocs of the peoples in the world with dynamic stochastic equilibrium.
Francis Shieh a.k.a.Xie Shihao, a lifelong graduate student from China in 1947 to witness"60th year Cycle" apropos of Sino-American Economics with strategtic dialogue on July 27 and July 28, 2009 in Washington,DC.
Sunday, July 26, 2009 at 1.36 p.m.
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