Edited sentence: " He continues "Contrary to economic thinking since Adam Smith, the book reinforces the myth that protectionism enriches those nations that practice it" believing that protectionism has been a benefit to the United States while it has, in fact, been a retardation to our progress and growth of wealth (p.(Grizwald Review).According to Daniel T.Grizwald of the CATO Institute, believes the book to be a "score settling exercise distorted by the author's own political prejudices and personal animus.Malaysia's GDP had, in fact, fallen much farther than the other countries listed by Stiglitz, down to 6.7% and "recovered less rapidly in 1999 and 2000 even though [others] did not resort to capital controls Stiglitz champions".On the subject of the East Asian Finacial Crisis, Grizwald states "while he is not questioning free trade, Stiglitz is disparaging the free flow of capital.Overall, Stiglitz "distorts the history of the East Asian Miricle", with Russian privatization he "ignores the fact that Russia's initial reforms were timid and half baked" and that the IMF with its beliefs in bail outs and non-market exchange rates is not the "great symbol of market fundamentalism".The book blames the East Asian Financial Crisis almost entirely on one factor: capital account liberalization" Stiglitz demonstrates his belief by "prais[ing] Malaysia for spurring IMF advice...by imposing capital controls to stem the flight of short term flows" while provind no evidence to support his belief that Malaysia was rewarded for their efforts