Ranked among the advanced countries by the IMF in 1997, Taiwan has in less than 50 years, graduated from an agrarian economy into a sophisticated, high-tech based economy and is now entering the so called Third Wave, the information age. Taiwan's rapid economic development has lead a declining population growth rate which, in turn, has lead the dependent rate of the younger generation to decline, but that of the older generation to increase, along with a series of problems that poses negative impacts on economic growth as well as on social security: urban overcrowding, estrangement and alienation among people, weakening of social controls, the expensiveness and difficulties in making a living in urban cities, deterioration of social orders, a rising divorce rate, a growing number of single-parent families, downgrading of the roles of the family and the society, among others. In addition, a lopsided emphasis on economic success helps fuel a money-oriented, getrich-quick devious mentality, so much so that individuals now expect fortuitous gains rather than making an honest living. The resulting development in pornographic business and gang activities demoralizes the community and corrodes the basic ethics that drives an otherwise efficient society. Lately, though, Taiwan's working class and entrepreneurs have demonstrated apparent improvement in economic ethics. Taiwan's labor force now demonstrates a complete reverse of the previous careless, irresponsible work attitude. The high-tech industry's quality workforce and each employee's meticulous as well as resourceful work attitude have won applause all over the world. Taiwan's successful entrepreneurs today not only specialize in professional management and ringing in profits, in the age of a modernized economy, they also observe the following business ethics: customers service and satisfaction, employee benefits, community service, respect for intellectual properties, and an active role in environmental protection. The improvement is due to a large extent to the progress of industrial technology and keen competition in the commodity and service markets, and in the labor markets as well. In order to accelerate economic growth and maintain competitiveness in world economy, Taiwan's entrepreneurs and labor force must observe ethical principles and thereby play a positive role in rebuilding the society. This will lead us hopefully to a law-abiding, just, "rich and civil" society.