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FEB 06, 2013 - Forbes

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Paul Krugman Says It Again: Japan's Stagnation is a Myth

Paul Krugman has taken another look at the Japanese economy and pronounces it no basket case. I am happy to second that motion. Having lived in Tokyo solidly for 27 years, I know that all during the decades of Japan's alleged stagnation, living standards have actually improved faster in Japan than they have in the United States. But even someone of Krugman's caliber will a hard time convincing the wrong-way Corrigans of the American economics profession. They desperately want to believe the Japan-as-basket-case story. Otherwise their precious theories would fall apart -- and what a terrible ... Read More

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