This suits the speculative mindsets of the borrowers and lenders whose inadequacies were so dramatically highlighted by the crisis. Comparing the Web and the Global Financial System Aside from the above criticsm of the web, it has the recognized advantage of being decentralized and to a large degree self-organizing. The particular concerns regarding obscene and subversive material pose organizational issues of a different order. There are many interesting parallels. In both cases this travels between institutional computers.
Many interested parties endeavour to track flows.
There is much debate in support of the self-organizing development of the web. Regulation by central institutions is resisted, although the January 1998 decision of the World Wide Web Consortium may be consdered the thin end of the wedge. Both the web and the financial system offer the interesting contrast between an operational self-organization and simplistic regulatory endeavours through bodies of fairly traditional form. What is missing is any effort to model the complexity of the self-organizing process as it now stands, in each case, and as it might evolve. The pattern of recimination following the Asian crisis is such that most of those involved are recognized to be at fault.