As the global Great Recession continues, policymakers, economists,
and the public are turning to Japenses economic revitalization for
answers. Paul Krugman, Nobel laureate in Economics, once said that
Japan was a "full-dress rehearsal for the current crisis." Japan
has experienced and valiantly overcome the burst of their Bubble
economy, financial crisis, lukewarm recovery, and more than a
decade-long deflation and stagnation to become one of the most
stable economies today. Japan's Great Stagnation and Abenomics
reveals the striking similarities of economic events and policies
between the Great Stagnation and the current Great Recession. It
also suggests possible dangers ahead and way-outs in the future.
This exciting new volume is based on Wakatabe's expertise in
economic history and the history of economic ideas and argues that
any policy decision is related to cultural ideology. An
investigation into the relationship between cultural ideology and
policy helps us better understand the policy-making process.
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