Japan, A Failed Keynesian State?

  • It’s popular in certain circles to depict Japan as a sort of Keynesian failed state, plagued by by near insurmountable economic problems such as an insurmountable debt burden.
  • But Japan’s problems can be traced back to the burst of epic asset bubbles, which hobbled the country for decades.
  • While far from perfect, the policy reaction wasn’t nearly as bad as the critics have it, in a way it was actually better than what occured in the West post.
  • That doesn’t mean Japan didn’t commit some grave errors, nor that its economic situation isn’t extremely complicated.

Japan, A Failed Keynesian State? | Seeking Alpha