Yushi Mao "graduated from the Department of Mechanical Engineering, Jiaotong University, China, in 1950. He served as research assistant and associate at the Railway Academy, conducting research on locomotive thermodynamics, train resistance, and gas turbine traction. In 1984, he moved to the Institute of American Study, Chinese Academy of Social Sciences (CASS), from which he retired in 1993. With four other CASS economists, he founded the Unirule Institute of Economics, and is now director of the Board. His research covers energy, environment, and transportation. He serves as concurrent Professor of four universities in China, and has published five books, including Principle of Optimal Allocation: Mathematical Foundation of Economics (1985); Economics in Everyday Life (1993); and The Future of Chinese Ethics (1997), which received Honorable Mention at the 1999 Sir Antony Fisher International Memorial Award."