Explains the relationship between democracy and thrift in the Second World
War home-front campaigns. Looks at make-do-and-mend in the UK and
Roosevelt’s ‘fireside chats’ in the US. Goes on to analyse the ways in which
this era has been used by current-day politicians and institutions to create
nostalgia, and argues this nostalgia is used to fuel acceptance of austerity
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book presents the case studies of the individual countries: Thailand, Indonesia, South Korea and the People's Republic of China (PRC). It examines the factors behind the financial crisis and highlights the underlying similarities and the fundamental differences between the individual cases. The book provides a review of the competing perspectives on the new international financial architecture. It explains a number of fundamental issues and its implications for the emerging market economies. The book also presents a more nuanced picture of the International Monetary Fund's (IMF) policies and its socioeconomic impact. It assesses the IMF's efforts to reduce moral hazard. The book also examines the reasons behind Asia's remarkable economic recovery and the challenges that lie ahead.