The series is good journalism and I recommend it especially for the
classroom.  Article 2 is poor but revealing in its analysis, however. 
Essentially, it concludes that the E. Asian countries were thrown into
crisis because they are not enough like us: they don't have our
sophisticated financial regulations, our equity market-based corporate
governance, or our more liberal relationship between state and market. 
So in a sense it was their fault for being who they were, and it was
also the fault of the US for pushing financial liberalization too
rapidly on such flawed countries.  Lots of hubris here (especially for a
country headed for its own wrenching adjustment at some point in the
future).

Peter Dorman



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