Japan’s Lost Decade
In a recent article written by Paul Krugman in the New York Times titled Japan Reconsidered, he wrote that Japan’s Lost Decade doesn’t look so bad now compared with the current situation in the US.
This article reminded me of the many recent references to Japan’s Lost Decade such as:
- Globeandmail.com: Is Japan’s ‘lost decade‘ a window to the future?
- WSJ.com: Obama Warns of ‘Lost Decade‘
- Newsweek: Can We Avoid Japan’s Mistakes?
- BusinessWeek: What the U.S. Can Learn from Japan’s Lost Decade
- NYTimes.com: Lessons From Japan in Stemming a Crisis
… and many more. Japan’s Lost Decade occurred in the 1990s during after a bubble, a period of very slow growth and characterized by a financial crisis as well. I wonder if we will really learn from the past?