At this time every year, yellow canopies bright as the sun hover over both ends of the University Mall, as thousands of students in black gowns receive their certificates and thousands of family and friends share their joy. Prof. Joseph J.Y. Sung, Vice-Chancellor, quoting the illustrious scholar Dr. Ch'ien Mu, advised the fresh graduates to put the communal above the personal, to ponder and judge with caution the proliferation of views that marks our age, and to pursue ideals beyond private gain and status— 'Know your time, lead your time.'

With their pool of expertise, universities often serve as effective watch stations for a society, and issue warnings when they foresee actions leading to undesirable results. Nobel laureate Prof. Joseph E. Stiglitz delivered a lecture on campus earlier in the month. Citing the financial crisis of 2007, he urged economists and policy-makers to learn from the experience and focus on the underlying problems of the global economy.

Prof. Gabriel Lau, who has done climate assessment for the United Nations for many years, including helping to calculate some sobering figures, reminds us to ensure the well-being of the world in 'Thus Spake …'. People buy insurance to manage life's unpleasant surprises, yet when it comes to the environment, many still refuse to take out an insurance policy. Let's hope Professor Lau's revelations will change that.