Do Japan’s 20 years of economic stagnation offer any lessons to the United States?
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
- What lessons Japan’s experience can offer the US
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Brookings Institution, 2016