Message-ID: <362613BC.43DDBD1D@gusun.georgetown.edu> Date: Thu, 15 Oct 1998 11:24:46 -0400 From: Martin Sieg <mailto:siegm@GUSUN.GEORGETOWN.EDU> Subject: Financial Crises Eye Opening To: mailto:DEVEL-L@AMERICAN.EDU
This article, http://www.monde-diplomatique.fr/en/1998/10/02halimi.html , addresses how the networked nature of the economy is partly the cause of the recent and current calamities?The author advocates national currency and economic controls to protect countries from being too easily affected by outside changes (small change in one part of the net means a big change elsewhere) but is he forgetting that countries that isolate themselves too much also have many problems?
How do we balance the openness needed to bring money, expertise and technology into developing countries with the need for some control over the effects of that importation and the ease of removing it suddenly, preferencing profit over economic integrity and human life?
Martin Sieg
MA student CCT Program Georgetown University