Summary of Japan's Lessons for America's Budget Warriors

Looking for the report?
We have the summary! Get the key insights in just 5 minutes.

Japan's Lessons for America's Budget Warriors summary
Start getting smarter:
or see our plans

Rating

7 Overall

8 Importance

7 Innovation

6 Style

Recommendation

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.

 

Summary

America’s faltering post-2007 economy resembles Japan’s post-1990 economy: Both crises manifested from a bursting property bubble, and both nations have faced soaring public debt and deficits coupled with falling interest rates. However, Japan has “suffered more intensely” than the US, and its crisis...

Get the key points from this report in 10 minutes.

For you

Find the right subscription plan for you.

For your company

We help you build a culture of continuous learning.

 or log in

Comment on this summary

More on this topic

Customers who read this summary also read

More by category