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The Myth of Japan's Lost Decades.


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2011 Apr 15, 12:13am   1,029 views  1 comment

by American in Japan   ➕follow (1)   💰tip   ignore  

http://mises.org/daily/5170/The-Myth-of-Japans-Lost-Decades

Read it ...What do you agree with? What do you disagree with?

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1   justme   2011 Apr 18, 11:07am  

So let me see if I get this:

1. the folks of the Mises Institute are about the most anti-Keynes group on the planet

2. they publish an article about how Japan has in fact done quite well in 1989-2011, at least for the average citizen.

3. They appear to overlook the obvious observation that Japan is "doing well" basically because the public (the government) has borrowed and spent quite large sums of money to keep GDP high, which is exactly the kind of action they would normally *denounce* as being Keynesian.

The article appears to fit the definition of IRONY quite well.

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