Comment on Urgent Lessons from Japan--(Permanent recession?)

Urgent Lessons from Japan--(Permanent recession?)

Imagine a world where the economy never emerges from recession. Imagine a time and place in which economists talk first of a double-dip recession, then about a triple-dip recession … and ultimately admit the dire reality of a long, multi-decade depression. Imagine chronically high unemployment, overwhelming government indebtedness, shrinking population, spreading poverty — even growing rates of homelessness among college graduates.

 

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