Paul Krugman is the Winner of Nobel prize in Economic Science, 2008. Listed as the New York Times Best Seller. Published by W. Norton and Co.,New York and London.
Page 11 on China: Great puzzles of political economy to be in line with Sino-American economics to be watched with amazing happenings.
Page 27: Indonesia's life expectancy rose from 46 to 63. Folks can live longer with better weather and good lifestyle.
"It was the indirect and unintended result of the actions of soulless multinational corporations and rapacious local entrepreneurs." (sic)
Page 60: Japan: Distinctive characteristics - the cozy relationship between government and business, the extension of easy credit by government-guaranteed banks to closely allied firms come to be label crony capitalism and seen as the root of economic malaise.
In this regard, New York Times reporter just published "Too Big To Fail" in the same rationale. Such heavy and thick book is truly revealing of the facts.
Perhaps we would be able to detect political economy of human behavior of some leaders in some nations with frailties. Ethics and morality are stressed by Adam Smith as a moral philosopher and an economist. Ben Franklin mentioned virtue. Confucian heritage calls for teachers to be venerated and respected by pupils as the leaders to educate the young generation to serve the society with good moral disciple.
Francis Shieh aka Xie Shihao, an avid grad student from China in 1947 trying to learn the transformation in USA and in China from the 20th century to the 21st century with knowledge plus wisdom.
Saturday, December 26, 2009 at 6 p.m.
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