When discussing with my undergrad students why I thought Japan Inc. was bust I trotted out the graph below. However, this morning while looking at the graph several questions came to mind.
1) From 1998 – 2008 what was average real interest rate in Japan and how does that compare to the ten years previous to 1998?
2) What has been the average level of inflation in Japan since 1998? Again how does that compare to the 10 years previous to 1998?
I already know the answer to those questions but I would have not arrived there by any HAT (highly accepted theory).
3) Why are we even talking about programs cuts in Canada before it is clear that the world economy and the US economy has started a robust recovery? And why especially when Canada is way below the advanced capitalist curve (in terms of debt to GDP)?
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Relentlessly Progressive Political Economy 