The seemingly quick global recovery from the Asian financial crisis and its limited effect on industrial countries produced far less sould searching about capitalism's basic principles than the Great Depression. The author argues that the global economic arrangements were inadequate in both instances and that the IMF requires serious reform to ensure a more stable global economic environment.
Stiglitz, Joseph. "Failure of the Fund: Rethinking the IMF Response." Harvard International Review 23, no. 2 (Summer 2001): 14-18.
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