Japanese Optimism or Dickensian Economics.

Nikkei Business., 16th February 2005 Recent data on the economy have been almost universally bad, but comment remains cheerful. As I explained in my January article, Japanese policy makers are driven to optimism by their lack of policy options. If the economy is weak,...

Has Japan’s Sad Experience Taught Her Nothing?

Talk at The Keidanren Kaikan Conference Center, Tokyo., 31st January 2005 15 months ago I gave a talk at this Center in which I discussed whether the disappointing performance of Japan’s economy over the past 15 years was the result of bad luck or bad policy. I...