Wen Jiabao, the Premier of China is one of the most influential international figures of this generation. He is also on Facebook and gave an interview to Fareed Zakaria’s GPS - an hour long program that takes a comprehensive look at foreign affairs and policies shaping our world.
Wen Jiabao discussed several topics of extreme relevance to the global community, showing the man's intellectual prowess and sharp focus.
On a day when the US Congress is feverishly working to unfreeze the free market system on Wall Street by injecting $ 77billion into the market, the advise from the Socialist flag bearer was worth listening to. Asked about the prevailing economic philosophy for Wen Jiabao who did Jiabao quote? Who other than Adam Smith, suggesting that the free hand of capitalism should be balanced by Government regulations to keep things fair and orderly.
Adam Smith is, of course, known as the father of modern day economics, and regularly quoted for his words supporting the free-market and “the invisible hand”: lt is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their selflove, and never talk to them of our own necessities but of their advantages.
A large part of Smith's book - The Theory of Moral Sentiments - deals with ethics, morality, and the role of government, regulation and application of “morality” to free markets - a historical point often lost in debates over free market virtues.
What’s Jiabao reading? Stoic Marcus Aurelius apparently is one of his favorite philosophers, a thoughtful Roman emperor who advocated social responsibility and internal progressive social reforms even as he persecuted wars and treated some dissenters ruthlessly.
Read the full transcript of interview from CNN.
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