Asian Crisis and Structuralist Argument Essay

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Glen and Singh (2004) are strongly critical of the Greenspan-Summers-IMF thesis, which posited that microeconomic behaviours of economic agents in Asian societies were responsible for the Asian crisis. One of the fundamental challenges in evaluating their critique becomes apparent quickly – the original source material is strangely absent. The references in Glen & Singh are not of a consistent thesis at all, but a series of statements made by Greenspan and Summers, for which it is difficult to track down the original source material. This matters because in order to evaluate Glen and Singh's critique, I need to know if they strongmanned that thesis, or strawmanned it. Instead I am left with Glen and Singh's interpretation of that that "thesis" is, which is not a good starting point for proper evaluation of their critique.

Glen and Singh paraphrased this thesis as asserting "that although certain macroeconomic disequilibria may have provided a trigger for the crisis, its fundamental causes lay in the day-to-day microeconomic behaviour of economic agents in these societies.

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" Glen and Singh make this claim without quoting the original source material, which in my mind weakens their credibility. Further to this problem, they follow up with "In short, it was argued…" their own interpretation of what that thesis might have said. The IMF source material – the survey cited by Glen and Singh, is available online and while governance is mentioned on multiple occasions, there are no specific details noted as to what governance issues there were, and nothing about microeconomic decisions that contributed to the crisis. It is difficult, then, to truly know what Glen and Singh are arguing against, or if they are conducting their argument in good faith.
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https://www.aceyourpaper.com/essays/asian-crisis-structuralist-argument-2172967
   

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