- 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?
March 20th, 2015 · No Comments