Author Description

20072009 200811 This is an economics book that is almost completely contrary to the exiting ideas of mainstream economics in the world. The author is a pessimistic idealist. Based on the impact of the subprime crisis in 2007 on China's economy, since 2009, the author started with the issue of housing prices in China and analyzed the Chinese economy from the perspective of ethical philosophy. The author believed that only the economic theories which are developed based on human-centered economic ethics are valuable. The goal of economics is to study how to feed all members of society with the least resources and to create the greatest amount of material wealth for all. The book criticizes the ethical errors of financial capitalism and the Soviet model of socialism, and explores the reform of state-owned assets management under the public ownership. The book also answers the question that Queen Elizabeth II asked economists when she visited the London School of Economics in November 2008: Why haven't you predicted such a big crisis?