Japan vs. US: Side-by-Side Comparison
By Dyske February 18th, 2009
This article by Martin Wolf does a nice job of comparing Japan’s “Lost Decade” to the current recsssion in the US. He says:
…those who argue that the Japanese government’s fiscal expansion failed are, again, mistaken. … Despite a loss in wealth of three times GDP and a shift of 20 per cent of GDP in the financial balance of the corporate sector, from deficits into surpluses, Japan did not suffer a depression. This was a triumph.
Interesting; I’ve never thought of it that way. I guess it’s true.
