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Premature financial deregulation in south-east Asia led to a proliferation of family-business-controlled banks which did nothing to support exportable manufacturing and which indulged in vast amounts of illegal related-party lending. It was a story of banks being captured by narrow, private sector interests whose aims were almost completely unaligned with those of national economic development.
How Asia Works
Joe Studwell
Unlike physics or economics, history is not a means for making accurate predictions. We study history not to know the future but to widen our horizons, to understand that our present situation is neither natural nor inevitable, and that we consequently have many more possibilities before us than we imagine.
Sapiens
Yuval Noah Harari
History is something that very few people have been doing while everyone else was ploughing fields and carrying water buckets.
Sapiens
Yuval Noah Harari
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