Professor Liu’s lecture on the “The Paradox of Need Satisfaction: An Economic Inquiry” on Wednesday 7th November 2012 at the Macau Ricci Institute

Professor Liu Baocheng, the director of the Center for International Business Ethics at the University of International Business and Economics, was invited by the Macau Ricci Institute in Macau to participate in a workshop called Humankind and Nature: an Endangered System of Interdependence in Today’s Globalising World. The event was two days long, with many different lectures, discussions with people from all over the world.  The main themes of the lecture included Reflection on Religions, Ecology, Humankind, Conversation Movement, and Technology.

 
Professor Liu held his lecture on “The Paradox of Need Satisfaction: An Economic Inquiry” on Wednesday 7th November 2012.  Where he argues, that full human dignity is not possible in condition of poverty. Furthermore, he urges that steps need to be made so that all individuals are provided with material conditions needed, so that they can enjoy and exercise moral autonomy.  Entrepreneurship plays a key role in the wealth creation which is dependent on the successful allocation and distribution of resources such as land, labour and capital. Professor Liu stresses that while austerity is a virtue and asceticism a choice of lifestyle, they all rest on the premise of economic freedom and rationalization.