World Economic System and Social Responsibility

Washington Post, July 8, 2009 Page A6:

Pope( the religious leader of the West and the East) criticizes world economic system, urges social responsibility. It is Socio-Economics in evidence. President Obama, the political leader of the West, will visit the Pope on Friday, July 10, 2009 as scheduled. They have some common ground in re wealth distribution with ethics and morality. Moreover,Pope advocates the creation of a world political authority to manage the economy i.e. Political Economy as I sent my previous blogs. Such is cited in "Keys for Economic Understanding." www.ask.com.

Adam Smith (of the West) was a professor of moral philosophy and Confucius/Mencius(of the East) stressed morality and ethics as well. The East and the West can be integrated on the same globe with deep reflections for further research.

"The primary capital to be safeguarded is people, Pope says, adding that economic systems need to be guided by charity and truth." It is known that human capital is to be utilized world-wide regardless of race,color or creed for the love of humanity as homosapiens.

COMICS on page C8: Family Circus Bil Keane A small kid says to his mother:

"Mr. Coverly didn't want any animal crackers. He says he's a vegetarian." A chuckle?

It is incorrect perception and reception. However,such mistakes may be relevant to the thoughts of folks talking about the economy. If truth is multi-dimensional as the nature of economics,how can anyone know the truth ? It is common sense that all folks make mistakes.

Economics covers everything under the sun and the moon. Would anyone be able to know everything? Not really. The reader is correct to be alert to the domain("fanwei or lingyu" in Pin Yin) of epistemology and etiology.

Francis Shieh a.k.a. Xie Shihao, an avid learner of macro views of things to share with readers online today.

Wednesday,July 8, 2009 at 11.12 a.m.