Publication

This article argues that the debate about the causes of the Asian crisis is less a debate than a ritual of paradigms talking past each other. The problem is that even in one country, several different explanations, from both sides of the rational/nonrational divide, may contain truth and even reinforce each other, both at the same time and in sequence. This paper aims not at the necessary hypothesis formulation and testing but at an interpretative account of the process of the crisis, thinking of causality as a chain of proximate and more distant events.