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 2017||First, Do No Harm|
|Fall 2016||Can the State Enforce Virtuous Behavior?|
|Summer 2016||Douglass C. North: Trailblazer|
|[View All (55)]|