During the 1990s, Japanese politicians rewarded their friends and supporters with an unprecedented increase in public-works spending, leaving the private part of Japans GDP to increase a mere 1.5 percent over a decade that also experienced a 2.7 percent increase in the population. Is this the same country that alarmists in the 1980s warned would soon supersede the United States?
|Other Independent Review articles by Robert Higgs|
|Summer 2017||Moderation in Response to Provocation Is No Vice|
|Winter 2017||First, Do No Harm|
|Fall 2016||Can the State Enforce Virtuous Behavior?|
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