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|
|Winter 2015||Tolstoys Manifesto on the State, Christian Anarchy, and Pacifism|
|Fall 2014||Ronald Coase, Anomalous Superstar of the Economics Profession|
|Summer 2014||The Feds Immiseration of People Who Live on Interest Earnings|
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