Before entering politics — the family business — Hatoyama Yukio was a fledging academic, a Stanford-educated engineer. His background as an academic is often on display when he delivers set piece addresses. He has a penchant for abstraction, for drawing upon broad principles and shying away from the nitty gritty details of policy. This tendency …
Tag: deflation
A twenty years’ crisis
"Japan is an economy that is almost certainly producing well below its productive capacity - that is, the immediate problem facing Japan is one of demand, not supply. And it gives every appearance of being in a liquidity trap - that is, conventional monetary policy appears to have been pushed to its limits, yet the …
Tobias S. Harris 