November 17, 2014
A PEOPLE WITH NO CULTURE CAN NOT SAVE ITSELF...
Better Economic Policy Won't Save Japan (Megan McArdle, 11/17/14, Bloomberg View)
[T]here may simply be limits on what good economic policy can achieve. This is not a very useful thing for an economics columnist to write, because then what are we supposed to suggest week after week? But there it is: Japan's economic problems, particularly its long demographic shift, may simply not be very amenable to better policy. Japan's exports have a lot more competition than they used to, and the country is heading for the demographics of an Assisted Living facility. Better monetary policy won't change either of those facts.
...nor is there any reason for it to. The salient fact about the dying of Japan is that the Japanese don't care.
Posted by Orrin Judd at November 17, 2014 5:09 PM
Tweet