The Nobel Prize in economics was awarded to two scholars whose research shed new light on how groups of people cooperate, honoring work that is grounded in the real world over more abstract mathematical models.
Elinor Ostrom's works are in the fields of political economy that I support wholeheartedly.
Oliver Williamson wrote his book "The Economic Institutions of Capitalism."
There is human capitalism in China apropos of the most populous nation in the world with human capital. But the human capital is relevant to training for marketable skills. Cf. "Keys for Economic Understanding" www.Borders Used Book for reference. " Moreover, Williamson's work was related to vocational training. www.ask.com to search "Keys to Economic Understanding." in the same line of thoughts.
Francis Shieh a.k.a. Xie Shihao, a lifelong graduate student from Shanghai, China in 1947 and did graduate work at Georgetown University in late 1940s with experience as an economist at the US Department of Labor in 1960s.
Tuesday, October 13, 2009 at 6.08 p.m.
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