In this symposium our debates are mainly concerned on the role of ethics, religion, and ideology in economic development. Jochen Schumann provides a study on the economics of the Jewish, Christian, Islamic and Buddhist religions. Confucius is not a religion but has played a central role in the social order in the eastern Asian countries. According to the two main criteria to classify economic systems: (a) the private property and (b) market as a tool to rule resource allocation, the main ideas of Confucius are discussed on basis of original sources of Confucius. The change in economic ideology has a very crucial influence on development of the global economy as well as individual economy. The change of ideology from Marx back to the Confucius has been mainly responsible for the economic transition and the success of the economic development in China since 1978 and is discussed in this symposium.