At the same time, the crisis tarnishes the complex international trading structure, and adds to the growing voices damning “globalisation”. Krugman (1998) has reminded us that Keynes saw his interventionist active fiscal proposals as necessary to save the market system. Now, changes are needed in international financial markets to safeguard the continuance of international capital flows, with all the benefits they bring.
Let me be very brief and say that I have always been inspired by his vision and guidance. I am grateful to him for the continued trust in me. I have known Montek for about twenty-five years and had worked with him closely for sometime during the reform period. One is inevitably impressed with his sharp intellect and admirable articulation.