Where is the Reality Check?

Where is the Reality Check?


Riordan Roett Unless action is taken by the G-7 to make good on its promise to create a "new financial architecture," the world's financial system will remain susceptible to future crises of a similar nature. While there have been recent calls for renewed attention to the problem, it is most likely that the aftermath to the Argentine crisis will see renewed complacency and wishful thinking with the belief that emerging market countries have learned a lesson and will practice good governance. As Paul Krugman points out in his book, "The Return of Depression Economics," the learning process should have beg

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