“… perhaps the most noticeable impact here has been Japan’s crisis of confidence. Just two decades ago, this was a vibrant nation filled with energy and ambition, proud to the point of arrogance and eager to create a new economic order in Asia based on the yen. Today, those high-flying ambitions have been shelved, replaced by weariness and fear of the future, and an almost stifling air of resignation. Japan seems to have pulled into a shell, content to accept its slow fade from the global stage.”
Why is Deflation Dangerous?
http://www.theatlantic.com/business/print/2010/10/why-worry-about-low-inflation/64673/
Why is Deflation Dangerous?
http://www.theatlantic.com/business/print/2010/10/why-worry-about-low-inflation/64673/
Meanwhile, Robert Samuelson Considers the “Age of Austerity”