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In Japan, huge social security expenditures have been simply monetized by the Bank of Japan at the expense of the overall welfare and the economic prospects of Japan’s youth.
This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.
Original Article: "Japan Embraced Debt as a Way out of Its Budget Crisis. It's Not Working.".
Taiki Murai is research assistant at the Institute for Economic Policy of Leipzig University.
Contact Gunther Schnabl
Gunther Schnabl is a professor of international economics and economic policy in the department of economics at Leipzig University, Germany.