World Scientific Publishing Company Stewardship-Based Economics

Product Description Ownership-based economics has led to the rapid development and apparent universal success of the market economy. It is a system built on the deception of resource availability, ill-defined profit, and misled by the idea that an invisible hand can be an equitable system of distribution. It has resulted in a high living standard for a few select individuals, but at the expense of mankind and nature, ultimately culminating in the development of human conflict. This is a book with a blueprint for the twenty-first century, proposing a two-fold approach to easing the pressure on both the human race and the world we live in. It calls for a change of mindset from ownership to stewardship and a shift of responsibility to the corporate entities as a sub-system of the market economy. Review Library shelves groan under the weight of mighty tomes with Economics in their titles. Why yet another? What does this one have to offer? This book fills that yawning gulf between the science of economics, and the people whom it serves. This is economics with a human face, addressing the interplay between man's acquisitive nature and his responsibility to society and to the Earth itself. Professor Kao expounds this philosophy in a vast range of contexts indeed, almost the entire spectrum of human endeavour, either directly or by implication all of which bear on the condition of man and his world. People, goods and commodities, land, air and water, resources, organizations and government and their interdependence all feature prominently in this worldview. The book is an unusual and original slant on economics, and in fact is not really a treatise on economics at all. It's not just about the mechanical, soulless details of the functioning of an economic system in some abstract context, but about intelligent use without exploitation, of resources and people, i.e. optimizing the balance between use and responsibility responsible stewardship. --Dr George Vukovich, Director of Spacecraft Engineering (Space Technologies, Canadian Space Agency) This is a brilliant book that really makes its readers think about the structure of human societies. It describes the new economic order that must emerge if the human species is to survive, and is destined to become a landmark publication in its field. --Louis Jacques Filion (Rogers-J-A-Bombardier Professor of Entrepreneurship, École des Hautes Études Commerciales de Montréal, The Montreal Business School, Canada) Like the academic entrepreneur that Raymond Kao is, this book is bold and innovative. In it Kao challenges the traditional tenets of economic thinking. It is grand stuff and certainly not a me-too text that trots out the accepted body of wisdom. Rather it challenges accepted paradigms, provokes thought and stimulates the reader to think creatively about how we can deal with the economic challenges of the 21st century. --David A Kirbymmm, Vodaphone Chair of Business and Founding Dean (Faculty of Business Administration, Economics and Political Science British University, Egypt)