Daily Archives: January 13, 2010

From elsewhere:
Did low interest rates or regulatory failures cause the bubble? – Economist’s View
The roots of American dominance – Free Exchange
Changing times: Global governance reform and the IMF – IMF Direct
Financial globalisation has improved international risk sharing – VoxEU
Bubble denial – Paul Krugman

Twenty years ago, the conventional wisdom was clear: Japan was the world’s most successful high-income country. Few guessed what the next two decades held in store. Today, the notion that Japan is on a long slide is conventional wisdom. So what went wrong? What should the new Japanese government do? What should we learn from its experience?

We must put this in context. The quality of the train system and the food make a visitor from the UK realise he comes from an utterly backward country. If this is decline, then most people would welcome it. Read more