The US’s sluggish recovery from the 2008 financial crisis mirrors in many ways Japan’s post-1990 economy. However, their experiences are not identical. Thus, America’s ailment requires a different prescription. Economic consultant John H. Makin offers a cogent explanation to why the US shouldn’t swallow the same medicine as Japan. His text is highly detailed, but it provides a thought-provoking comparison with Japan and sheds light on many aspects of fiscal crises. getAbstract recommends this article to US policy makers seeking a model to emulate and to observers of the global economic recovery.
In this summary, you will learn
- How America’s and Japan’s economic situations are similar,
- How they differ, and
- What lessons Japan’s experience can offer the US.
About the Author
John H. Makin is a former consultant to the US Treasury Department, the Congressional Budget Office and the International Monetary Fund.