1. Current Status
Last year (2010), foreign investment to USA increased 49%, or $22 billion; China’s share was less than 1%. While China’s investment in the USA increased quickly from 2006 to 2010 by as much as 25 times, the investment represents only 0.1% of China’s total direct foreign investment in the USA and is considered “initial stage”. Indeed, it seems more logical that Chinese countrymen who vigorously flock to USA to invest most result in tourism rather than an investment opportunity. The USA is a world investment haven creating a bargain market for foreign investments’ as it is starting to shake the economic hangover and recover from its recession. China’s investment in the USA is still slow and would be prudent to take advantage of the pending market surge.
2. Golden Opportunity
It’s a once in a life time opportunity to invest in USA now. As the top economic power in the world, USA established a standard market order and a well-developed legal system therefore; it becomes the first choice for the global investors for both safe and high return.
In the 1980s to 1990s, when I organized and coordinated the colossal investment to USA from Japan, it was resisted by the whole country. Now the situation has totally changed, everyone from President Obama to Congress and business communities, from the media to the American people, all warmly welcome and have a great expectation for China’s investments.
Expanding China’s investment in the USA will improve China’s market position, management skill, gain international experience, and help China to be partner of international society. While China’s market growth is quite strong right now, nothing lasts forever and growth can be insured by investing in other markets, especially ones’ that have taken a beating. The USA needs China’s investment to recover from recession, to increase employment, and to support its continued economic growth. Therefore, promoting China’s investment to USA is a win-win method to meet both countries’ long-term economic interests.
Now is the best time for China’s investors to put their money in the USA markets. Not to long ago, the Japanese invested in the USA while the US economy was booming. Unfortunately for the Japanese, they acquired their assets at a market high in price and are suffering through losses. With the USA economy nearly bottomed out, it’s a great chance for low cost investment to a bargain market.
3. Investment Policies
Basing my opinion on more than 20 years personal experience in New York for organizing Japanese investment to USA and lending business in the leading financial institutions, I propose these measures to Chinese investors to succeed in USA market.
Management
When I represented Japanese investment to USA, my office was located in the New York Nippon Club Tower owned by my company. It’s Japan’s biggest overseas center whose members include all the top Japanese companies in addition to Japan’s three ambassadors to the USA, United Nations and New York. It’s the Control Center for Japanese investment to the USA and it’s also a major place of exchange and cooperation for Japanese and USA government and business leaders.
China also needs to establish a Central Control Center composed of top government officials and industry leaders to support its oversea investments. It needs to appoint talents with international experience and professional knowledge, to support China’s investment, promote smooth and successful cooperation with USA industries. Furthermore, it makes for easier dissemination of information among people with Chinese interests.
Understanding
In late 1980s, in the initial period of Japanese investments to USA, I published many articles in the USA’s Japanese language newspapers and magazines, introducing the American economy, finance, laws and regulations, societies and successful investment skills, to guide Japanese investors.
For the Chinese investors who want to make investment to USA, they must learn, understand, and follow up with USA’s laws, culture and social customs to strengthen relationships and promote cooperation with the USA’s government, congress, industries and society. With such a commitment, China can they succeed in investment and realize sustainable operate in local.Before making investment decision, China needs feasibility study regarding investment risk, challenge and returns, to prepare long-term plans and to develop comprehensive countermeasures to control investment risks.
Low-Key, Pure Business Purpose
Many Chinese companies prefer to create momentum for their overseas investments by pronouncing pending high profile deals. Before making an actual deal, they would grandly laud the topic to broadly publicize; unfortunately it only created distaste from media and local society thus tarnishing the goal of success. Their competitors and related groups would seize the opportunity to suppress, and cause the investment plans to suffer setbacks.
USA is a marketing-based economic country which is led by private enterprises; the free fair competition principal does not allow government interferences from normal enterprise behaviors. If the business dealing smells of Chinese government involvement, it will cause the matter to be defeat instead. Many Chinese companies follow the lead developed in mainland China by utilizing Chinese central government control style. However, this doesn’t work as well in the USA. By pursuing leads through USA government channels, visiting government offices, congressmen, state governors or captains of industry in the business marketplace as a traditional practice, China draws excessive attention to itself. Some political lobbyists fish in troubled waters and seek money to “solve” the problems of the ensnared prey. The politician's involvements result in the business deal being excessively politicized, and thus cause battles with these government parties and political groups that only cast a dim light and sour words from media, industries, enterprises and society. Some regular mergers and acquisitions have failed due to the negative media hypes, the politician and lobbyists’ involvements.
I have been strongly emphasizing to the Chinese government for many years that Chinese companies who come to USA for investment and business must be low profile and pursue a pure business purpose. They should avoid politics, seeking American partners in related industries who have strong positions and solid notable reputations. The American industries pursue win-win deals. They are glad and eager to provide strong support and cooperation with foreign investors. In order to be successful with foreign investments in the USA, China should base its decisions on profit-making purpose only.
Careful Investments Selection
We should acknowledge that the USA has an open, fair and mature market. There also exist the related laws and regulations to protect national interest, the same as all western developed countries with the investment safety review mechanism. Therefore, when Chinese companies go overseas for investment, they must fully understand and respect these related laws, regulations and policies. Without this practice, even if the first hurdles are cleared, it will be difficult to sustain development.
For example, China investments in the USA must particularly be careful to avoid any military related projects, major infrastructures such as highways, bridges, logistics and distribution equipment; information, energy, mining, smelting, American resources strategy areas, and cutting-edge high-tech field etc. As a result, the foreign investments in the US were mainly concentrated in the manufacturing industry.
The US real estate market is a low risk, high return, less industrial restriction, low technical requirements, with easy finance, less employment issues, and relatively easy to manage the industry. Also it’s the foothold industry for all Chinese investors should enter before making an investment to other industries. Foreign investors, including many Chinese investors who have made great success, are mostly in the US real-estate market.
The Chinese Government should use the great opportunities to promote and support Chinese investment in the USA and seek mutual benefits.
Source:
MacroChina Network - The authoritative network of China's macroeconomic policy, composed of Vice Chairman of Congress, Vice Primer, key Ministers and top Economists.
People.com.cn - No.1 media in China.
2011年8月29日星期一
2011年6月26日星期日
World Famous Economists
Source: World News http://wn.com/economist
Adam Smith
Adam Smith (baptised 16 June 1723 – died 17 July 1790 ) was a Scottish moral philosopher and a pioneer of political economics. One of the key figures of the Scottish Enlightenment, Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations. The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. Smith is widely cited as the father of modern economics and capitalism.
http://wn.com/Adam_Smith
Adam Smith (baptised 16 June 1723 – died 17 July 1790 ) was a Scottish moral philosopher and a pioneer of political economics. One of the key figures of the Scottish Enlightenment, Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations. The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. Smith is widely cited as the father of modern economics and capitalism.
http://wn.com/Adam_Smith
Alan Greenspan
Alan Greenspan (born March 6, 1926) is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private advisor and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006 after the second-longest tenure in the position.
http://wn.com/Alan_Greenspan
Alan Greenspan (born March 6, 1926) is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private advisor and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006 after the second-longest tenure in the position.
http://wn.com/Alan_Greenspan
Alfred Nobel
Alfred Bernhard Nobel () (21 October 1833 – 10 December 1896) was a Swedish chemist, engineer, innovator, armaments manufacturer and the inventor of dynamite. He owned Bofors, which he had redirected from its previous role as primarily an iron and steel producer to a major manufacturer of cannon and other armaments. Nobel held 355 different patents, dynamite being the most famous. In his last will, he used his enormous fortune to institute the Nobel Prizes. The synthetic element nobelium was named after him.
http://wn.com/Alfred_Nobel
Alfred Bernhard Nobel () (21 October 1833 – 10 December 1896) was a Swedish chemist, engineer, innovator, armaments manufacturer and the inventor of dynamite. He owned Bofors, which he had redirected from its previous role as primarily an iron and steel producer to a major manufacturer of cannon and other armaments. Nobel held 355 different patents, dynamite being the most famous. In his last will, he used his enormous fortune to institute the Nobel Prizes. The synthetic element nobelium was named after him.
http://wn.com/Alfred_Nobel
Aristotle
Aristotle (, Aristotélēs) (384 BC – 322 BC) was a Greek philosopher, a student of Plato and teacher of Alexander the Great. His writings cover many subjects, including physics, metaphysics, poetry, theater, music, logic, rhetoric, politics, government, ethics, biology, and zoology. Together with Plato and Socrates (Plato's teacher), Aristotle is one of the most important founding figures in Western philosophy. Aristotle's writings were the first to create a comprehensive system of Western philosophy, encompassing morality and aesthetics, logic and science, politics and metaphysics.
http://wn.com/Aristotle
Aristotle (, Aristotélēs) (384 BC – 322 BC) was a Greek philosopher, a student of Plato and teacher of Alexander the Great. His writings cover many subjects, including physics, metaphysics, poetry, theater, music, logic, rhetoric, politics, government, ethics, biology, and zoology. Together with Plato and Socrates (Plato's teacher), Aristotle is one of the most important founding figures in Western philosophy. Aristotle's writings were the first to create a comprehensive system of Western philosophy, encompassing morality and aesthetics, logic and science, politics and metaphysics.
http://wn.com/Aristotle
Ben Bernanke
Ben Shalom Bernanke ( ; born December 13, 1953) is an American economist, and the current Chairman of the United States Federal Reserve. Previously, he served as Fed Governor and Chairman of President George W. Bush's Council of Economic Advisers.
http://wn.com/Ben_Bernanke
Ben Shalom Bernanke ( ; born December 13, 1953) is an American economist, and the current Chairman of the United States Federal Reserve. Previously, he served as Fed Governor and Chairman of President George W. Bush's Council of Economic Advisers.
http://wn.com/Ben_Bernanke
Carl Menger
Carl Menger (February 28, 1840 – February 26, 1921) was the founder of the Austrian School of economics, famous for contributing to the development of the theory of marginal utility, which contested the cost-of-production theories of value, developed by the classical economists such as Adam Smith and David Ricardo.
http://wn.com/Carl_Menger
Carl Menger (February 28, 1840 – February 26, 1921) was the founder of the Austrian School of economics, famous for contributing to the development of the theory of marginal utility, which contested the cost-of-production theories of value, developed by the classical economists such as Adam Smith and David Ricardo.
http://wn.com/Carl_Menger
David Hume
David Hume (7 May 1711 [26 April O.S.] – 25 August 1776) was a Scottish philosopher and historian, regarded as one of the most important figures in the history of Western philosophy and the Scottish Enlightenment. Hume is often grouped with John Locke, George Berkeley, and a handful of others as a British Empiricist.
http://wn.com/David_Hume
David Hume (7 May 1711 [26 April O.S.] – 25 August 1776) was a Scottish philosopher and historian, regarded as one of the most important figures in the history of Western philosophy and the Scottish Enlightenment. Hume is often grouped with John Locke, George Berkeley, and a handful of others as a British Empiricist.
http://wn.com/David_Hume
David Ricardo
David Ricardo (19 April 1772 – 11 September 1823) was an English political economist, often credited with systematising economics, and was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and John Stuart Mill. He was also a member of Parliament, businessman, financier and speculator, who amassed a considerable personal fortune. Perhaps his most important contribution was the law of comparative advantage, a fundamental argument in favour of free trade among countries and of specialisation among individuals. Ricardo argued that there is mutual benefit from trade (or exchange) even if one party (e.g. resource-rich country, highly-skilled artisan) is more productive in every possible area than its trading counterpart (e.g. resource-poor country, unskilled laborer), as long as each concentrates on the activities where it has a relative productivity advantage.
http://wn.com/David_Ricardo
David Ricardo (19 April 1772 – 11 September 1823) was an English political economist, often credited with systematising economics, and was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and John Stuart Mill. He was also a member of Parliament, businessman, financier and speculator, who amassed a considerable personal fortune. Perhaps his most important contribution was the law of comparative advantage, a fundamental argument in favour of free trade among countries and of specialisation among individuals. Ricardo argued that there is mutual benefit from trade (or exchange) even if one party (e.g. resource-rich country, highly-skilled artisan) is more productive in every possible area than its trading counterpart (e.g. resource-poor country, unskilled laborer), as long as each concentrates on the activities where it has a relative productivity advantage.
http://wn.com/David_Ricardo
Fengbo Zhang
Fengbo Zhang (; born 1957) is a leading Chinese economist. He has been advising the highest level of Chinese leadership in policy-making since the 1980s. As the first citizen of the People's Republic of China to receive a Ph.D. in economics from an overseas country, Dr. Fengbo Zhang introduced Western Economics to China for top economic decision-making.
http://wn.com/Fengbo_Zhang
Fengbo Zhang (; born 1957) is a leading Chinese economist. He has been advising the highest level of Chinese leadership in policy-making since the 1980s. As the first citizen of the People's Republic of China to receive a Ph.D. in economics from an overseas country, Dr. Fengbo Zhang introduced Western Economics to China for top economic decision-making.
http://wn.com/Fengbo_Zhang
Friedrich Hayek
Friedrich August Hayek CH (8 May 189923 March 1992), born Friedrich August von Hayek, was an Austrian-born economist and philosopher best known for his defense of classical liberalism and free-market capitalism against socialist and collectivist thought. He is considered to be one of the most important economists and political philosophers of the twentieth century. Hayek's account of how changing prices communicate signals which enable individuals to coordinate their plans is widely regarded as an important achievement in economics. Hayek also produced significant work in the fields of systems thinking, jurisprudence, neuroscience and the history of ideas.
http://wn.com/Friedrich_Hayek
Friedrich August Hayek CH (8 May 189923 March 1992), born Friedrich August von Hayek, was an Austrian-born economist and philosopher best known for his defense of classical liberalism and free-market capitalism against socialist and collectivist thought. He is considered to be one of the most important economists and political philosophers of the twentieth century. Hayek's account of how changing prices communicate signals which enable individuals to coordinate their plans is widely regarded as an important achievement in economics. Hayek also produced significant work in the fields of systems thinking, jurisprudence, neuroscience and the history of ideas.
http://wn.com/Friedrich_Hayek
Frédéric Bastiat
Claude Frédéric Bastiat (30 June 1801 24 December 1850) was a French classical liberal theorist, political economist, and member of the French assembly.
http://wn.com/Frédéric_Bastiat
Claude Frédéric Bastiat (30 June 1801 24 December 1850) was a French classical liberal theorist, political economist, and member of the French assembly.
http://wn.com/Frédéric_Bastiat
Irving Fisher
Irving Fisher (February 27, 1867 – April 29, 1947) was an American economist, health campaigner, and eugenicist, and one of the earliest American neoclassical economists, though he later rejected the underlying theory of general equilibrium, and his later work on debt deflation is instead considered in the Post-Keynesian school. Although he was perhaps the first celebrity economist, his reputation during his lifetime was irreparably harmed by his sanguine attitude immediately prior to the crash of 1929, and his theory of debt deflation was ignored in favor of the work of John Maynard Keynes. His reputation has since recovered in neoclassical economics since his work was popularized in the late 1950s , and more widely due to an increased interest in debt deflation in the Late-2000s recession.
http://wn.com/Irving_Fisher
Irving Fisher (February 27, 1867 – April 29, 1947) was an American economist, health campaigner, and eugenicist, and one of the earliest American neoclassical economists, though he later rejected the underlying theory of general equilibrium, and his later work on debt deflation is instead considered in the Post-Keynesian school. Although he was perhaps the first celebrity economist, his reputation during his lifetime was irreparably harmed by his sanguine attitude immediately prior to the crash of 1929, and his theory of debt deflation was ignored in favor of the work of John Maynard Keynes. His reputation has since recovered in neoclassical economics since his work was popularized in the late 1950s , and more widely due to an increased interest in debt deflation in the Late-2000s recession.
http://wn.com/Irving_Fisher
James Tobin
James Tobin (March 5, 1918 – March 11, 2002) was an American economist who, in his lifetime, served on the Council of Economic Advisors and the Board of Governors of the Federal Reserve System, and taught at Harvard and Yale Universities. He developed the ideas of Keynesian economics, and advocated government intervention to stabilize output and avoid recessions. His academic work included pioneering contributions to the study of investment, monetary and fiscal policy and financial markets. He also proposed an econometric model for censored endogenous variables, the well known "Tobit model". Tobin received the Nobel Memorial Prize in Economic Sciences in 1981.
http://wn.com/James_Tobin
James Tobin (March 5, 1918 – March 11, 2002) was an American economist who, in his lifetime, served on the Council of Economic Advisors and the Board of Governors of the Federal Reserve System, and taught at Harvard and Yale Universities. He developed the ideas of Keynesian economics, and advocated government intervention to stabilize output and avoid recessions. His academic work included pioneering contributions to the study of investment, monetary and fiscal policy and financial markets. He also proposed an econometric model for censored endogenous variables, the well known "Tobit model". Tobin received the Nobel Memorial Prize in Economic Sciences in 1981.
http://wn.com/James_Tobin
Jean-Baptiste Say
Jean-Baptiste Say (5 January 1767 – 15 November 1832) was a French economist and businessman. He had classically liberal views and argued in favor of competition, free trade, and lifting restraints on business. He is best known due to Say's Law, which is named after him and at times credited to him, but while he discussed and popularized it, he did not originate it.
http://wn.com/Jean-Baptiste_Say
Jean-Baptiste Say (5 January 1767 – 15 November 1832) was a French economist and businessman. He had classically liberal views and argued in favor of competition, free trade, and lifting restraints on business. He is best known due to Say's Law, which is named after him and at times credited to him, but while he discussed and popularized it, he did not originate it.
http://wn.com/Jean-Baptiste_Say
Jeffrey Sachs
Jeffrey David Sachs (; born November 5, 1954, in Detroit, Michigan) is an American economist and Director of the Earth Institute at Columbia University. One of the youngest economics professors in the history of Harvard University, Sachs became infamous for implementing economic shock therapy throughout the developing world and in Eastern Europe, and subsequently for his work on the challenges of economic development, environmental sustainability, poverty alleviation, debt cancellation, and globalization.
http://wn.com/Jeffrey_Sachs
Jeffrey David Sachs (; born November 5, 1954, in Detroit, Michigan) is an American economist and Director of the Earth Institute at Columbia University. One of the youngest economics professors in the history of Harvard University, Sachs became infamous for implementing economic shock therapy throughout the developing world and in Eastern Europe, and subsequently for his work on the challenges of economic development, environmental sustainability, poverty alleviation, debt cancellation, and globalization.
http://wn.com/Jeffrey_Sachs
John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes, CB (; 5 June 1883 – 21 April 1946) was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of governments. He greatly refined earlier work on the causes of business cycles, and advocated the use of fiscal and monetary measures to mitigate the adverse effects of economic recessions and depressions. His ideas are the basis for the school of thought known as Keynesian economics, as well as its various offshoots.
http://wn.com/John_Maynard_Keynes
John Maynard Keynes, 1st Baron Keynes, CB (; 5 June 1883 – 21 April 1946) was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of governments. He greatly refined earlier work on the causes of business cycles, and advocated the use of fiscal and monetary measures to mitigate the adverse effects of economic recessions and depressions. His ideas are the basis for the school of thought known as Keynesian economics, as well as its various offshoots.
http://wn.com/John_Maynard_Keynes
John Stuart Mill
John Stuart Mill (20 May 1806 – 8 May 1873) was a British philosopher and civil servant. An influential contributor to social theory, political theory, and political economy, his conception of liberty justified the freedom of the individual in opposition to unlimited state control. He was a proponent of utilitarianism, an ethical theory developed by Jeremy Bentham, although his conception of it was very different from Bentham's. Hoping to remedy the problems found in an inductive approach to science, such as confirmation bias, he clearly set forth the premises of falsification as the key component in the scientific method. Mill was also a Member of Parliament and an important figure in liberal political philosophy.
http://wn.com/John_Stuart_Mill
John Stuart Mill (20 May 1806 – 8 May 1873) was a British philosopher and civil servant. An influential contributor to social theory, political theory, and political economy, his conception of liberty justified the freedom of the individual in opposition to unlimited state control. He was a proponent of utilitarianism, an ethical theory developed by Jeremy Bentham, although his conception of it was very different from Bentham's. Hoping to remedy the problems found in an inductive approach to science, such as confirmation bias, he clearly set forth the premises of falsification as the key component in the scientific method. Mill was also a Member of Parliament and an important figure in liberal political philosophy.
http://wn.com/John_Stuart_Mill
Joseph Stiglitz
Joseph Eugene Stiglitz, ForMemRS (born February 9, 1943) is an American economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is also the former Senior Vice President and Chief Economist of the World Bank. He is known for his critical view of the management of globalization, free-market economists (whom he calls "free market fundamentalists") and some international institutions like the International Monetary Fund and the World Bank. In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. Since 2001, he has been a member of the Columbia faculty, and has held the rank of University Professor since 2003. He also chairs the University of Manchester's Brooks World Poverty Institute and is a member of the Pontifical Academy of Social Sciences. Professor Stiglitz is also an honorary professor at Tsinghua University School of Public Policy and Management. Stiglitz is one of the most frequently cited economists in the world.
http://wn.com/Joseph_Stiglitz
Joseph Eugene Stiglitz, ForMemRS (born February 9, 1943) is an American economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is also the former Senior Vice President and Chief Economist of the World Bank. He is known for his critical view of the management of globalization, free-market economists (whom he calls "free market fundamentalists") and some international institutions like the International Monetary Fund and the World Bank. In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. Since 2001, he has been a member of the Columbia faculty, and has held the rank of University Professor since 2003. He also chairs the University of Manchester's Brooks World Poverty Institute and is a member of the Pontifical Academy of Social Sciences. Professor Stiglitz is also an honorary professor at Tsinghua University School of Public Policy and Management. Stiglitz is one of the most frequently cited economists in the world.
http://wn.com/Joseph_Stiglitz
Karl Marx
Karl Heinrich Marx (May 5, 1818 – March 14, 1883) was a German philosopher, political economist, historian, political theorist, sociologist, communist, and revolutionary, whose ideas played a significant role in the development of modern communism and socialism. Marx summarized his approach in the first line of chapter one of The Communist Manifesto, published in 1848: "The history of all hitherto existing society is the history of class struggles."
http://wn.com/Karl_Marx
Karl Heinrich Marx (May 5, 1818 – March 14, 1883) was a German philosopher, political economist, historian, political theorist, sociologist, communist, and revolutionary, whose ideas played a significant role in the development of modern communism and socialism. Marx summarized his approach in the first line of chapter one of The Communist Manifesto, published in 1848: "The history of all hitherto existing society is the history of class struggles."
http://wn.com/Karl_Marx
Lakshmi Kant Jha
Lakshmi Kant Jha (22 November 1913 - 16 January 1988), or L. K. Jha as he was called, was the eighth Governor of the Reserve Bank of India from 1 July 1967 to 3 May 1970. A member of the Indian Civil Service, Jha had served as Secretary to the Prime Minister of India, prior to his appointment as Governor of RBI.
http://wn.com/Lakshmi_Kant_Jha
Lakshmi Kant Jha (22 November 1913 - 16 January 1988), or L. K. Jha as he was called, was the eighth Governor of the Reserve Bank of India from 1 July 1967 to 3 May 1970. A member of the Indian Civil Service, Jha had served as Secretary to the Prime Minister of India, prior to his appointment as Governor of RBI.
http://wn.com/Lakshmi_Kant_Jha
Mark Blaug
Mark Blaug (3 April 1927, the Hague, Netherlands) is a British economist (naturalised in 1982), who has covered a broad range of topics over his long career. In 1955 he received his PhD from Columbia University in New York. Besides shorter periods in public service and in international organisations he has held academic appointments in - among others - Yale University, the University of London, the London School of Economics and the University of Buckingham. He currently lives in Leiden and works as Visiting Professor in the Netherlands, University of Amsterdam and Erasmus University in Rotterdam, where he is also co-director of CHIMES (Center for History in Management and Economics).
http://wn.com/Mark_Blaug
Mark Blaug (3 April 1927, the Hague, Netherlands) is a British economist (naturalised in 1982), who has covered a broad range of topics over his long career. In 1955 he received his PhD from Columbia University in New York. Besides shorter periods in public service and in international organisations he has held academic appointments in - among others - Yale University, the University of London, the London School of Economics and the University of Buckingham. He currently lives in Leiden and works as Visiting Professor in the Netherlands, University of Amsterdam and Erasmus University in Rotterdam, where he is also co-director of CHIMES (Center for History in Management and Economics).
http://wn.com/Mark_Blaug
Milton Friedman
Milton Friedman (July 31, 1912 November 16, 2006) was an American economist, statistician, a professor at the University of Chicago, and the recipient of the Nobel Prize in Economics. Among scholars, he is best known for his theoretical and empirical research, especially consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy.
http://wn.com/Milton_Friedman
Milton Friedman (July 31, 1912 November 16, 2006) was an American economist, statistician, a professor at the University of Chicago, and the recipient of the Nobel Prize in Economics. Among scholars, he is best known for his theoretical and empirical research, especially consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy.
http://wn.com/Milton_Friedman
Orley Ashenfelter
Orley Clark Ashenfelter is a Frisch Medal-winning economist who serves as a professor of economics at Princeton University. His areas of specialization include labor economics, econometrics, and law and economics. He is the director of the Industrial Relations Section at Princeton University, and has been director of the Office of Evaluation of the U.S. Department of Labor, a Guggenheim Fellow, and the Benjamin Meeker Visiting Professor at the University of Bristol. He is a recipient of the IZA Prize in Labor Economics, the Mincer Award for Lifetime Achievement of the Society of Labor Economists, a Fellow of the Econometric Society, the American Academy of Arts and Sciences, the Society of Labor Economics, and a Corresponding Fellow of the Royal Society of Edinburgh. He also served as editor of the American Economic Review. He analyzed the results of the Judgment of Paris wine tasting event with Richard E. Quandt..
http://wn.com/Orley_Ashenfelter
Orley Clark Ashenfelter is a Frisch Medal-winning economist who serves as a professor of economics at Princeton University. His areas of specialization include labor economics, econometrics, and law and economics. He is the director of the Industrial Relations Section at Princeton University, and has been director of the Office of Evaluation of the U.S. Department of Labor, a Guggenheim Fellow, and the Benjamin Meeker Visiting Professor at the University of Bristol. He is a recipient of the IZA Prize in Labor Economics, the Mincer Award for Lifetime Achievement of the Society of Labor Economists, a Fellow of the Econometric Society, the American Academy of Arts and Sciences, the Society of Labor Economics, and a Corresponding Fellow of the Royal Society of Edinburgh. He also served as editor of the American Economic Review. He analyzed the results of the Judgment of Paris wine tasting event with Richard E. Quandt..
http://wn.com/Orley_Ashenfelter
Paul Krugman
Paul Robin Krugman (; born February 28, 1953) is an American economist, Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times. In 2008, Krugman won the Nobel Memorial Prize in Economics for his contributions to New Trade Theory and New Economic Geography. He was voted sixth in a 2005 global poll of the world's top 100 intellectuals by Prospect.
http://wn.com/Paul_Krugman
Paul Robin Krugman (; born February 28, 1953) is an American economist, Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times. In 2008, Krugman won the Nobel Memorial Prize in Economics for his contributions to New Trade Theory and New Economic Geography. He was voted sixth in a 2005 global poll of the world's top 100 intellectuals by Prospect.
http://wn.com/Paul_Krugman
Richard Cantillon
Richard Cantillon (1680s – May 1734) was an Irish economist and author of Essai Sur La Nature Du Commerce En Général (Essay on the Nature of Trade in General), a book considered by William Stanley Jevons to be the "cradle of political economy". Although little information exists on Cantillon's life, it is known that he became a successful banker and merchant at an early age. His success was largely derived from the political and business connections he was able to acquire through his family and through an early employer, James Brydges. During the late 1710s and early 1720s, Cantillon speculated in, and later helped fund, John Law's Mississippi Company, from which he acquired great wealth. His success, however, came at a cost to his debtors, who pursued him with lawsuits, criminal charges, and even murder plots until his death in 1734.
http://wn.com/Richard_Cantillon
Richard Cantillon (1680s – May 1734) was an Irish economist and author of Essai Sur La Nature Du Commerce En Général (Essay on the Nature of Trade in General), a book considered by William Stanley Jevons to be the "cradle of political economy". Although little information exists on Cantillon's life, it is known that he became a successful banker and merchant at an early age. His success was largely derived from the political and business connections he was able to acquire through his family and through an early employer, James Brydges. During the late 1710s and early 1720s, Cantillon speculated in, and later helped fund, John Law's Mississippi Company, from which he acquired great wealth. His success, however, came at a cost to his debtors, who pursued him with lawsuits, criminal charges, and even murder plots until his death in 1734.
http://wn.com/Richard_Cantillon
Robert Sobel
Robert Sobel (February 19, 1931 – June 2, 1999) was an American professor of history at Hofstra University, and a well-known and prolific writer of business histories.
http://wn.com/Robert_Sobel
Robert Sobel (February 19, 1931 – June 2, 1999) was an American professor of history at Hofstra University, and a well-known and prolific writer of business histories.
http://wn.com/Robert_Sobel
Wilhelm Röpke
Wilhelm Röpke (October 10, 1899 in Schwarmstedt – February 12, 1966 in Geneva) was one of the most important spiritual fathers of the German social market economy.
http://wn.com/Wilhelm_Röpke
Wilhelm Röpke (October 10, 1899 in Schwarmstedt – February 12, 1966 in Geneva) was one of the most important spiritual fathers of the German social market economy.
http://wn.com/Wilhelm_Röpke
Xenophon
Xenophon (Ancient Greek , Xenophōn; Modern Greek Ξενοφών, Ksenofon; Ξενοφώντας, Ksenofontas; c. 430 – 354 BC), son of Gryllus, of the deme Erchia of Athens, also known as Xenophon of Athens, was a Greek historian, soldier, mercenary, and a contemporary and admirer of Socrates. He is known for his writings on the history of his own times, the 4th century BC, preserving the sayings of Socrates, and descriptions of life in ancient Greece and the Persian Empire.
http://wn.com/Xenophon engineering
Xenophon (Ancient Greek , Xenophōn; Modern Greek Ξενοφών, Ksenofon; Ξενοφώντας, Ksenofontas; c. 430 – 354 BC), son of Gryllus, of the deme Erchia of Athens, also known as Xenophon of Athens, was a Greek historian, soldier, mercenary, and a contemporary and admirer of Socrates. He is known for his writings on the history of his own times, the 4th century BC, preserving the sayings of Socrates, and descriptions of life in ancient Greece and the Persian Empire.
http://wn.com/Xenophon engineering
2011年6月24日星期五
World 10 Famous Economists
This article includes 10 most famous economists in world history, and their professional contributions.
1. Fan Li is recognized in most circles as the earliest economist. He worked during the Chinese Spring and Autumn Period and used the concept of buying low and selling high in the feudal agrarian society of Ancient China.
1. Fan Li is recognized in most circles as the earliest economist. He worked during the Chinese Spring and Autumn Period and used the concept of buying low and selling high in the feudal agrarian society of Ancient China.
2. Richard Cantillon lived in the 18th century and wrote Essai Sur la Nature du Commerce en Général, making him one of the first economic writers.
3. David Hume a Scottish historian and philosopher, was also an early founder of economic concepts and is considered to be one of the "classical economists"
4. John Stuart Mill a British political economist and philosopher, John Stuart Mill was a recognized contributor to political economy, social theory, and political theory.
5. Carl Menger is the founder of the Austrian School of Economics and was selected to lead a commission to change the Austrian monetary system. He wrote numerous articles that helped transform monetary theory.
6. John Maynard Keynes, a British economist, was the creator of Keynesian economics. He was also the founder of modern theoretical macroeconomics.
7. James Tobin, An American economist and Nobel Prize Laureate, James Tobin served on the Council of Economic Advisors and the Board of Governors of the Federal Reserve System.
8. Paul Krugman is a 2008 Nobel Memorial Prize in Economic Sciences winner and a supporter of modern liberal policies.
9. Fengbo Zhang, Dr. Zhang is a leading Chinese economist who introduced Western Economics to China, also the founder of China GDP and Macroeconomic Research.
10. Ludwig von Mises was a social philosopher who created a conclusive science of economics founded on the idea that individual human beings act on purpose in order to achieve goals.
Source: Wikipedia http://www.paidemployment.co.uk/Articles/AID00110.aspx
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