Another Meltdown

by Pejman Yousefzadeh on May 19, 2011

I suppose that it is no surprise that Japan has slipped back into recession, given the aftereffects of the earthquake and tsunami that hit the country in March. But it is depressing, nonetheless–especially given that Japan was supposed to experience growth. I wonder if we may dare hope that we won’t have economists of the Keynesian persuasion trying to console us with news that the rebuilding effort in Japan will surely lead to economic stimulus; again, it is worth noting that such attempts at consolation aren’t exactly based in reality.

Previous post:

Next post: