With the yen's falling to below ¥100/$1 for the first time since 2009 and the Nikkei’s posting five-year highs, analysts have begun declaring victory for the Abe administration’s campaign against deflation and slow growth. Paul Krugman, the intellectual godfather of Abenomics, has not quite begun his victory dance yet, but he is optimistic that under …
Tag: Japanese national debt
Mr. Kan’s Third Way
The Third Way has, belatedly, arrived in Japan.The style of politics popular in advanced industrial democracies during the 1990s among center-left leaders keen to reconcile their left-wing parties to the rise of neo-liberalism and the onset of austerity after the 1970s had heretofore failed to surface in Tokyo. But with the ascendancy of Kan Naoto, …
Two crises
In the comments section of this recent post, I have been accused of overstating Japanese decline and understating the US decline.I have actually said very little about the economic crisis in the US — and what I have said about Japan is not particularly new. For the most part I have simply updated an argument …
Tobias S. Harris 