From: tsoon (tsoon@mail.usyd.edu.au)
Date: Wed Nov 11 1998 - 22:50:42 MST
>Amazing! You have just reinvented Keynes, which is a step forward over
>some of the gung-ho I've-got-mine-fuck-you-Jack rhetoric on this list. I
>find it interesting that as crony capitalist Asia melts down and parts of
>eternally-in-hock Latin America are blown away, some views are shifting
>back toward a kind of Keynesian revival.
Crony capitalism, Damien, not capitalism. Hong Kong and S'pore which are
among the freest economies in Asia were not the cause of the Asian crisis.
The Asian crisis was caused by old fashioned industry policy in Korea, M'sia
and Indonesia combined with the moral hazard of past IMF bailouts.
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