About this videoIn this conference, Dr. Mark Skousen challenges Paul Krugman's view of the Asian financial crisis published in the article "The Myth of Asia's Miracle." According to Skousen, sound economic policies adopted by many countries, including high saving rates, low taxes, and fiscal responsibility, were ignored. Dr. Skousen believes the Asian crisis should be attributed to monetary policies, the banking system, and interest rate loans. He goes on to analyze the possibility of economic recovery in Korea, Singapore, Taiwan, Indonesia, and Hong Kong. Finally, Dr. Skousen explains that the lessons to be learned from this crisis are that governments should adopt sound monetary policies, clean up banking regulations, and allow for company downsizing and bankruptcy. |
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CreditsDangers and Opportunities: Global Economy and the Asian Financial Crisis | |
