Khan presents a new theory of financial crises in the age of globalization from an evolutionary perspective and suggests policies that may be necessary for averting or managing new financial crises. Starting with the Asian financial crises, he identifies new types of financial crises that result from a combination of liberalization, weak domestic institutions for economic governance and a chaotic global market system without global governance institutions. Suggested solutions involve building new institutions for global and domestic governance and domestic and international policy reforms. INDICE The Mangled Miracle and the Alchemy of Finance The Beginning of the Crisis: Thailand The Crisis Spreads: Indonesia The End of the South Korean Miracle Finance in a Complex Capitalist Economy: Failures of Global Markets and Developmental States Corporate Governance: A New Theory and Reform of the Family-based Corporate Governance System in Asia Asian Banks: Can They Learn to Assess Risks Better? Towards a New Global Financial Architecture General Conclusions: >From Crisis to a Global Political Economy of Freedom