Biography of glass artist Klaus Zimmer, primarily focussed on his work. Includes memoir by the artist and essays on his work by artists and academics. Illustrated throughout with colour and black-and white phtographs. Also released in special edition with slipcase and two original artworks.
This eagerly awaited guide offers the most comprehensive treatment ever published on the gulls of Europe, Asia and North America. A total of 43 species is treated, and every species is described in considerable detail, with a full description of each plumage and racial variation. Gulls are intelligent, versatile, opportunistic, and ecological generalists. As such, they exploit a variety of habitats, both coastal and inland, take a wide range of food, and are often extremely abundant. They are also great wanderers, with several American species regularly appearing in Western Europe and vice versa. As well as identification criteria, this book includes an up-to-date assessment of the range and status of every species, together with information on patterns of vagrancy. This important guide is published at a critical time in the development of dull taxonomy. The large, white-headed forms occurring in the region comprise a superspecies complex, with the precise relationships between the various components still under considerable debate. A thorough illustrative and textual treatment of the group is much needed, and this book provided the most complete overview of the complex. The text is complemented not only by superb colour paintings by Hans Larrson, but also by a large selection of colour photographs, sourced from some of the finest bird photographers in the world. This is the essential reference to a fascinating and endlessly challenging group of birds.
Based on exhaustive reference to primary source material, this volume explores the relationships between religious mythologies and religious philosophical system within the theistic traditions in India. Not content merely to explore these relationships, the author further examines the relevance of mythology and philosophy in a discussion of salvation—salvation understood in its sociological, eschatological, and philosophical senses. The treatment of myth and philosophy is comprehensive in scope, pulling together a great variety of sources and commentary, and illuminating them for the Western reader. This study will be of interest both to students of Indian religions and to students of comparative religion interested in creating a context for the discussion of Eastern and Western religions.
This is the first book to extensively and exclusively cover nonconventional yeasts - all yeasts other than S. cerevisiae and S. pombe. In addition to useful background information, the author includes detailed protocols allowing the investigation of basic and applied aspects for a wide range of these organisms. Due to the increasing importance of nonconventional yeasts in biotechnological applications, this book should become the standard reference for both pure and applied scientists working in the fields of microbiology and biochemistry.
The series Islamkundliche Untersuchungen was founded in 1969 by the Klaus Schwarz Verlag. Since then, it has become one of the most important venues for publications in Islamic and Middle Eastern Studies. Its more than 350 volumes cover a wide range of topics from the history, culture and societies of the Middle East and North Africa as well as neighboring regions in central, south and southeast Asia.
Methyl methacrylate (MMA) is the basic component of bone cements. To use it, a dough is prepared from the liquid and powder by mixing right before application, which is normally done by the operating team. During its working phase the dough is then inserted into the tissue where polymerization is completed. Thus, the final implant polymethyl methacrylate (PMMA) is only created at the implantation site. Besides methyl methacrylate, bone cements sometimes contain other methacrylates, such as butyl methacrylate. To achieve X-ray opacity, radiopacifiers (zirconium dioxide or barium sulfate) are added to the powder. Both the liquid and powder components contain additives (initiator and activator) that launch polymerization and control the set ting when mixed together. Moreover, softener and emulsifiers are some times used. The addition of antibiotics to the powder component in order to prevent or treat infections has become especially important. Commercial bone cements differ in composition and the course of curing. Some are designed for high and others for low viscosity. The way the user handles and applies the cement always crucially influences the quality of the implant. This is why clear and comprehensive information about the cements should be available to show the user how all the relevant factors work It should also be possible together and how they depend on each other.
In the 19th century, pure mathematics research reached a climax in Germany, and Carl Friedrich Gauss (1777–1855) was an epochal example. August Ferdinand Möbius (1790–1868) was his doctoral student whose work was profoundly influenced by him. In the 18th century, it had been mostly the French school of applied mathematics that enabled the rapid developments of science and technology in Europe. How could this shift happen? It can be argued that the major reasons were the devastating consequences of the Napoleonic Wars in Central Europe, leading to the total defeat of Prussia in 1806. Immediately following, far-reaching reforms of the entire state system were carried out in Prussia and other German states, also affecting the educational system. It now guaranteed freedom of university teaching and research. This attracted many creative people with new ideas enabling the “golden age” of pure mathematics and fundamental theory in physical sciences. Möbius’ legacy reaches far into today’s sciences, arts, and architecture. The famous one-sided Möbius strip is a paradigmatic example of the ongoing fascination with mathematical topology. This is the first book to present numerous detailed case studies on Möbius topology in science and the humanities. It is written for those who believe in the power of ideas in our culture, experts and laymen alike.
Mercedes AMG Petronas F1-Team"is the official name of the team that has been operated in the Formula 1 competition since the 2010 season by Germany's Daimler AG, one of the world's leading manufacturers of automobiles. The "Petronas" forming part of the racing team's name is also emblazoned on its legendary Silver Arrow cars. Owned by the Malaysian government, Petronas is a multinational petroleum giant. It, in turn, is also the main owner of companies that have been producing oil for many years in South Sudan, which is the one of the poorest countries in the world. These methods of production have caused an environmental catastrophe. It has seriously damaged the health and livelihoods of the people living there. That the world knows about this catastrophe is the result of nine years of the dogged, often dangerous work undertaken by"Sign of Hope", the German NGO, which launched. "Oil, power and Sign of Hope" documents the struggle to get the parties responsible at the oil companies and at their partners of sponsorship to adhere to internationally-applicable standards ― and, by doing such, to enable 180,000 people to exercise their human right to clean water. Another thrust of Sign of Hope's endeavors is the preservation of one of the world's largest wetlands and of its unique biodiversity: There are ways and means of pushing the buttons of the managers responsible for making decisions at entities that are engaged in polluting the environment. These buttons just have to be really strongly pushed.
Using diaries and letters, Wagenbach offers an extensive biography on Kafka that explores the writer's inner turmoil and troubled psyche. 50 illustrations.
Although Conservative parties did not exist in Germany until after the Napoleonic Wars, there did emerge, around 1770, traceable organized political activity and intellectual currents of a clearly Conservative character. The author argues that this movement developed as a response to the challenge of the Enlightenment in the fields of religion, socioeconomic affairs, and politics- and that this response antedated the impact of the French Revolution. Believing that Conservatism cannot be treated properly as a specialized phenomenon, or simply as an intellectual movement, Professor Epstein correlates it with the political and social forces of the time. Originally published in 1966. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
The proven standard in the field! Neuroradiology is evolving at a pace far quicker than any other specialty. It's important for specialists to have detailed knowledge of the newest advances, including state-of-the-art imaging techniques. In this abundantly illustrated text, you'll find the latest information on diseases, imaging principles, differential diagnosis, treatment strategies, and much more! This book is designed to help you easily apply theoretical concepts to your daily practice. It offers a clear and concise review of the most important neuroradiologic approaches to a variety of disorders. Key points are highlighted throughout the text, providing rapid access to the information you need. Residents and experienced practitioners alike will benefit from the wealth of information this book provides. Key benefits: Up-to-the-minute analysis on the newest imaging techniques Detailed review of the use of MRI to measure brain maturation Extensively illustrated to enhance understanding of difficult concepts Most important information is boxed and shaded for emphasis--ideal for board preparation An indispensable aid in clinical settings, NEURORADIOLOGY is an excellent guide to image interpretation as well as a valuable reference for residents preparing for the boards.
Fundamentals of Analytical Chemistry are usually presented as a sum of chemical and physical foundations, laws, axioms and equations for analytical methods and procedures. In contrast, this book delivers a practice-oriented, general guiding theory valid for all methods and techniques. The metrological foundations included define strictly the figures of merit in order to minimize confusions still appearing in Analytical Chemistry publications today.
Text in English and German. Rudiger Kramm is one of the most prominent representatives of that generation of architects having stepped out, in the late seventies, of the shadow of their predecessors, who had refounded and developed further Modern architecture in Germany in the three decades after the war. Kramm, with his constantly independent interpretation of brief and spatial context, avoids both the dogma of rigid functionalism and the random qualities of Postmodern aesthetics in order to find an astonishing range of design concepts for the functional quality of buildings, which is a central question for him. Kramm studied at the Technische Hochschule Darmstadt from 1966 to 1972, where the architecture faculty largely bore the stamp of Gunter Behnisch at the time. After gaining his diploma he went on to the University College in London, where he subsequently worked on urban renewal projects with D W Insall. He opened his own office in Darmstadt in 1977. In 1990 he was appointed professor of building construction and design at the University of Karlsruhe; in the same year he made Axel Strigl his office partner. After projects for refurbishing historical building stock and early residential buildings, in which he tried out concepts for energy- and resource-saving construction, Kramm acquired a reputation outside the immediate vicinity with the residential complex in Bessunger Strasse in Darmstadt. This estate, with its sophisticated floor-plan typology and open-space design is still considered an exemplary piece of housing design, in which changing household types and lifestyles are appropriately expressed in terms of design. In 1988 the estate won the Deutscher Stadtebaupreis, and in 1989 it was commended as a model building in Hesse. Housing remains the main focus of the office's work, but it has also been responsible for numerous commercial, administrative and retail buildings, including the Zeilgalerie shopping complex in Frankfurt.
Ultrasonic Nondestructive Testing of Materials: Theoretical Foundations explores the mathematical foundations and emerging applications of this testing process, which is based on elastic wave propagation in isotropic and anisotropic solids. In covering ultrasonic nondestructive testing methods, the book emphasizes the engineering point of view, yet it relies on the physics and mathematics aspects involved in elastic wave propagation theory. As a result, this resource becomes a missing link in the literature by combining coverage of the theoretical aspects of testing and providing intuitive assessments of numerous standard problems to illustrate fundamental assertions. Content includes a brief description of the theory of acoustic and electromagnetic fields to underline the similarities and differences as compared to elastodynamics. It also covers vector algebra and analysis, elastic plane and Rayleigh surface waves, and ultrasonic beams, as well as transducer radiation, inverse scattering, and ultrasonic nondestructive imaging. Includes numerical computations to explain wave propagation phenomena and compare results of analytical formulations Although ultrasonic nondestructive testing can often be roughly understood in terms of plane waves and beams, this book addresses the key issues of transducer radiation and defect scattering and imaging, respectively. The authors physically formulate point source synthesis, and, in mathematical terms, they use representation integrals with Green functions, always including intuitive interpretations with mathematical evaluations. Replacing cumbersome index notation with a coordinate-free version, this reference offers step-by-step documentation of relevant tensorial elastodynamic cases involving isotropic and anisotropic materials. It provides all necessary mathematical tools readers require to understand the mathematical and physical basis for ultrasonic nondestructive testing.
Impressive in size, emotional and visual impact, the buildings of Hamburg-based architects Bothe Richter Teherani are also remarkable for their attention to finishing detail, functionality and financial accountability, and have won international recognition. BRT s style is provocative and controversial; it took the city of Cologne 10 years to come to terms with their glass crane structures, predestined to become the heart of the Rhine and Ruhr valleys, and BRT s project to build Europe s highest building in the waters of Hamburg harbour is the subject of heated discussion. BRT s labyrinthine yet systematic concepts to maximize space in office buildings, the futuristic connotations of space shuttles and zeppelins, and their treatment of urban and public spaces are documented in this volume. The accompanying essays and text contributions investigate the aims of the architects, somewhere between pragmatism and vision, between fine detail and the greater complexity of urban life.
Essays in Honor of Wolfhart Zimmermann : Proceedings of the Symposium in Honor of Wolfhart Zimmermann's 80th Birthday, Ringberg Castle, Tegernsee, Germany, 3-6 February 2008
Essays in Honor of Wolfhart Zimmermann : Proceedings of the Symposium in Honor of Wolfhart Zimmermann's 80th Birthday, Ringberg Castle, Tegernsee, Germany, 3-6 February 2008
This book contains a collection of essays written in honor of Wolfhart Zimmermann's 80th birthday, most of them based on talks presented at a symposium in his honor. The book shows the unifying force of a subject (Quantum Field Theory) and a person (Zimmermann). It ranges from fundamental questions in quantum physics over applications to particle physics and noncommutative geometry to the latest developments in many body theory and dynamical systems. These key ideas are elucidated by worldwide-recognized experts including Faddeev, Becchi, Buchholz, Lowenstein and Salmhofer.Readers seeking examples on how a subject has evolved, diversified and deepened over the course of several decades and how a single person can influence this process can find here a perfect illustration. Through it all, readers are treated to a high-brow intellectual adventure
There is a long tradition of using wood as a distinct and ecologically sound building material. Wooden architecture conveys for today’s world the breadth of knowledge held in Western and Eastern cultures about the creative use of this unique material. The typical technique of building with wood, joinery, requires that elements are connected only by the skillful interlocking of the constructive parts. In this book, the history of wooden architecture is described in detail using hundreds of examples from Japan, China and Europe. From a holistic understanding, a picture emerges that is informative for architects, and designers, reopens an almost lost world to builders, and will enthrall laypeople. Also available in a German edition (ISBN 978-3-0356-2479-3)
This revision reflects recent developments and events in India. In particular, a new Part has been added entitled "The Meeting of East and West in India" which contains a new chapter on Mahatma Gandhi. There is also a new chapter on the position of women in Hinduism. In addition to the added chapters, the entire book has been rewritten with many new illustrations and maps. This book provides a comprehensive survey of the Hindu tradition, dealing with the history of Hinduism, the sacred writings of the Hindus, the Hindu worldview, and the specifics of the major branches of Hinduism--Vaisnavism, S aivism, and S aktism. It also focuses on the geographical ties of Hinduism with the land of India, the social order created by Hinduism, and the various systems of Hindu thought. Klostermaier describes the new development of Hinduism in the 19th and 20th centuries, including present-day political Hinduism and the efforts to turn Hinduism into a modern-world religion. A unique feature of this book is its treatment of Hinduism in a topical fashion, rather than by chronological description of the development of Hinduism or by summary of the literature. The complexities of Hindu life and thought are thus made real to the reader. Hindus will recognize it as their own tradition.
One of the central questions in psycholinguistics is how complex words are processed in the human mind. German ver-Verbs: Internal Word Structure and Lexical Processing explores the visual word recognition of German ver-verbs. Superficially, ver-verbs are uniform: they all begin with the sequence ver-. However, their internal structure is heterogeneous. Based on the results of various experimental designs, this book shows that the internal structure of ver-verbs is of paramount importance to their processing. Thus, the human mind employs different strategies for the processing of different types of complex words. This book is a useful companion for German, morphology, and psycholinguistics courses.
Klaus W. Jonas' zweisprachige Ausgabe behandelt die literarische Laufbahn des Schriftstellers W. Somerset Maugham (1874-1965), eines der erfolgreichsten und meistgelesenen englischen Dramatiker, Essayisten und Romanciers der ersten Halfte des 20. Jahrhunderts. Maugham selbst hat das humorvolle Vorwort in der Form eines Briefes beigesteuert. Eine chronologische Darstellung seines Lebens wird erganzt durch zwei wissenschaftliche Essays des Verfassers zu Maughams umfassendem literarischen Schaffen. Von besonderem Interesse sind die Auszuge aus dem Briefwechsel zwischen Klaus W. Jonas und W. Somerset Maugham, die einen genaueren Einblick in die Personlichkeit des Schriftstellers erlauben und von der engen Vertrautheit der beiden Briefpartner zeugen. Den zweiten Teil der Ausgabe bilden eine ausfuhrliche Bibliographie von Maughams literarischem Schaffen sowie eine Auswahlbibliographie von mehr als 420 kritischen Studien in deutscher, englischer, japanischer, spanischer und franzosischer Sprache. 71 Abbildungen, viele von ihnen bisher unveroffentlicht und aus Privatbesitz, erhohen den dokumentarischen Wert dieses Bandes. In this bilingual edition the author attempts to trace the literary career of William Somerset Maugham (1874-1865), one of the most widely read and performed dramatists, essayists and novelists in English literature in the first half of the twentieth century. Maugham himself has contributed a humorous preface in the form of a letter addressed to the author. The detailed chronology of Maugham's life is being supplemented by two of the author's numerous essays dealing with the stupendous literary oeuvre of this writer. Of special interest are the excerpts from Maugham's letters to his German-born collector and biographer which provide an inside view into his personality and his friendship with Klaus W. Jonas. The second half of this volume contains a bibliographical record of Maugham's life-work and a select bibliography of 420 critical studies in German, English, French, Spanish and Japanese. 71 illustrations, many of which hitherto unpublished and privately owned, enhance the documentary value of this volume.
Written by experienced authors, this book presents numerous natural everyday products with a high range of structural diversity. Twenty natural products have been arranged in five sections, describing three alkaloids, five colored compounds, three carbohydrates and glycosides, seven terpenoids, and two aromatic compounds. Adopting a highly didactical approach, each chapter features a uniform structure: Background, in-depth information about isolation processes and structural characterization as well as a Q&A section at the end. Alongside the theoretical information many practical hints for the laboratory work are also included. A comprehensive overview of UV-, IR- and NMR-spectroscopy as well as mass-spectrometry for every exemplified compound is provided and the understanding of these methods is supported by concluding questions and exercises. Educating and entertaining, this full-color textbook turns the learning process into a real pleasure, not only for students in natural products chemistry but also experienced professionals.
This second edition furthers conversations about the ongoing society-wide and worldwide digitalization of human communication. Reviewing the long lines in the history of media and communication – from writing via printing and broadcasting to computing – the book lays out three general types of media: the human body enabling face-to-face communication here and now; the technically reproduced means of mass communication across space and time; and the digital technologies integrating one-to-one, one-to-many, as well as many-to-many interactions. All these communicative practices coexist in contemporary media environments. Across cultures, genders, and age groups, people go on communicating in the flesh, via wires, and over the air, as illustrated though case studies of mobile communication on mundane matters, and of climate change as a global challenge for human communication and coexistence. The second edition includes: Updated accounts of research and public debate on digital media and communication Analyses of current social media and an emerging internet of things Systematic presentations of digital as well as traditional empirical methods Discussion of the normative implications of digitalization, including the classic rights of information and communication, and a right not to be communicated about through surveillance Interdisciplinary in scope to showcase the wide-reaching cultural consequences of media convergence, this book is ideal for advanced undergraduate students, graduate students, and scholars in the fields of media, communication, and cultural studies.
This book is about all kinds of numbers, from rationals to octonians, reals to infinitesimals. It is a story about a major thread of mathematics over thousands of years, and it answers everything from why Hamilton was obsessed with quaternions to what the prospect was for quaternionic analysis in the 19th century. It glimpses the mystery surrounding imaginary numbers in the 17th century and views some major developments of the 20th century.
Günther's book demonstrates that most objections to moral and legal principles are directed not against the validity of principles but against the manner of their application. If one distinguishes between the justification of a principle and its appropriate application, then the claim that the application of the principle in each individual case follows automatically from its universal justification proves to be a misunderstanding. Günther develops this distinction with the help of Habermas's discourse theory of morality. He then employs it to extend Kohlberg's theory of moral development and to defend this against Gilligan's critique. In the third and fourth parts of the book, Günther shows—in debate with Hare, Dworkin, and others—how argumentation on the appropriate application of norms and principles in morality and law is possible.
This book contains the refereed proceedings of the 20th International Conference on Theorem Proving in Higher Order Logics, TPHOLs 2007, held in Kaiserslautern, Germany, September 2007. Among the topics of this volume are formal semantics of specification, modeling, and programming languages, specification and verification of hardware and software, formalization of mathematical theories, advances in theorem prover technology, as well as industrial application of theorem provers.
Inflammatory cell recruitment requires the concerted action of at least five major sets of adhesion molecules: integrins, immunoglobulin-like molecules, selectins, carbohydrate structures serving as selectin ligands, and certain ectoenzymes. This volume gives a comprehensive overview on the most relevant leukocyte and endothelial adhesion molecules. The chapters are written by leaders in the field and focus on the biology, structure, function, and regulation of adhesion molecules. Currently approved adhesion molecule-based therapies are reviewed and an outlook for future approaches is also provided. The book is of interest to clinicians and scientists from immunology, physiology, cancer research, rheumatology, allergology, infectious diseases, gastroenterology, pulmonology and cardiology.
International Politics and Film introduces readers to the representational qualities of film but also draws attention to how the relationship between the visual and the spatial is constitutive of international politics. Using four themes—borders, the state of exception, homeland and distant others—the territorial and imaginative dimensions of international affairs in particular are highlighted. But this volume also makes clear that international politics is not just something "out there"; film helps us better understand how it is also part of everyday life within the state—affecting individuals and communities in different ways depending on axes of difference such as gender, race, class, age, and ethnicity.
The first history of the new deal in global context The New Deal: A Global History provides a radically new interpretation of a pivotal period in US history. The first comprehensive study of the New Deal in a global context, the book compares American responses to the international crisis of capitalism and democracy during the 1930s to responses by other countries around the globe—not just in Europe but also in Latin America, Asia, and other parts of the world. Work creation, agricultural intervention, state planning, immigration policy, the role of mass media, forms of political leadership, and new ways of ruling America's colonies—all had parallels elsewhere and unfolded against a backdrop of intense global debates. By avoiding the distortions of American exceptionalism, Kiran Klaus Patel shows how America's reaction to the Great Depression connected it to the wider world. Among much else, the book explains why the New Deal had enormous repercussions on China; why Franklin D. Roosevelt studied the welfare schemes of Nazi Germany; and why the New Dealers were fascinated by cooperatives in Sweden—but ignored similar schemes in Japan. Ultimately, Patel argues, the New Deal provided the institutional scaffolding for the construction of American global hegemony in the postwar era, making this history essential for understanding both the New Deal and America's rise to global leadership.
The principle of local activity explains the emergence of complex patterns in a homogeneous medium. At first defined in the theory of nonlinear electronic circuits in a mathematically rigorous way, it can be generalized and proven at least for the class of nonlinear reaction-diffusion systems in physics, chemistry, biology, and brain research. Recently, it was realized by memristors for nanoelectronic device applications. In general, the emergence of complex patterns and structures is explained by symmetry breaking in homogeneous media, which is caused by local activity. This book argues that the principle of local activity is really fundamental in science, and can even be identified in quantum cosmology as symmetry breaking of local gauge symmetries generating the complexity of matter and forces in our universe. Applications are considered in economic, financial, and social systems with the emergence of equilibrium states, symmetry breaking at critical points of phase transitions and risky acting at the edge of chaos./a
This Brief is an essay at the interface of philosophy and complexity research, trying to inspire the reader with new ideas and new conceptual developments of cellular automata. Going beyond the numerical experiments of Steven Wolfram, it is argued that cellular automata must be considered complex dynamical systems in their own right, requiring appropriate analytical models in order to find precise answers and predictions in the universe of cellular automata. Indeed, eventually we have to ask whether cellular automata can be considered models of the real world and, conversely, whether there are limits to our modern approach of attributing the world, and the universe for that matter, essentially a digital reality.
Considering the Patient in Pediatric Drug Development: How Good Intentions Turned into Harm addresses a fundamental challenge in drug development and healthcare for young patients. In clinical trials and clinical practice, the term "children" is used ambiguously to confer physiological characteristics to a chronological age limit, which in reality does not exist. This book outlines why the United States (US) and European Union's (EU) regulatory authorities, pediatric academia, and the pharmaceutical industry demand, support and perform pediatric drug studies, along with the key flaws of this demand that blurs the different administrative and physiological meanings of the term "child." In addition, the book covers why most pediatric regulatory studies lack medical sense and many even harm young patients and the conflicts of interest behind pediatric drug studies. It includes relevant information about the maturation of the human body regarding absorption, distribution, metabolism and excretion of food and drugs as well as key differences between newborns, infants, older children and adolescents. - Explains relevant information about the maturation of the human body regarding absorption, distribution, metabolism and excretion of food and drugs, including key differences between newborns, infants, older children and adolescents - Discusses historical roots of separate drug approval in officially labeled "children" and conflicts of interest in performing and publishing "pediatric" research - Helps to decipher justifications for pediatric studies to help people navigate the relevance of the information
Inhaltsangabe:Abstract: Macroeconomic stability and rapid export growth were the two key elements in starting the virtuous circles of high rates of accumulation, efficient allocation, and strong productive growth that formed the basis for East Asia s success. (World Bank, 1993). Public perception of the Asian economies could hardly have shifted more since that time. Currency depreciation, rising corporate bankruptcy, bank failures, and sovereign bonds downgraded to junk bond status ended the euphoria in Asian emerging markets . Almost overnight, the reputation of the Newly Industrialized Countries (NICs) in East and South East Asia deteriorated from a model of efficient development to an example of worst crony capitalism . Politicians, rating agencies, and investors were caught off guard by the development of the Asian financial crisis. During the meeting of the Asia-Pacific Economic Co-operation forum (APEC) in November 1997, U.S. President Bill Clinton referred to the financial crisis in Asia as merely a few small glitches in the road . Moody s and Standard and Poor s had upgraded the Philippines long term debt rating a few months earlier and downgraded the affected economies only when the crisis persisted for more than three months. Com-paring Thailand s situation to Mexico s economy prior to the peso crisis 1994-1995, the Morgan Stanley star analyst Barton Biggs wrote in January 1997: Thailand s problems are cyclical, not secular. Thailand is not Mexico in late1994. [..]On the numbers, Thailand qualifies for the euro and is healthier than Germany . The optimism seemed warranted by a history of high growth in the Asian countries. Before the outbreak of the crisis, Malaysia, Indonesia, Korea, and Thailand had experienced uninterrupted growth of more that 5 percent of GDP per year for almost two decades. The economic profession also experienced its Waterloo in Asia. Economists not only failed to predict the crisis; they also failed to recognize the vulnerability of the region. Paul Krugman (1994) in his now famous article in Foreign Affairs was the only well-known economist to doubt the sustainability of rapid growth in East and Southeast Asia. Nevertheless, even he did not predict this kind of collapse, but rather a gradual economic slowdown of growth. Despite the initial confusion among economists, academic discussion about the Asian financial crisis quickly crystallized around two different explanations of the crisis. One explanation [...]
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