Mises Wire

Japan Embraced Debt as a Way out of Its Budget Crisis. It's Not Working.

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.

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Japan Has Avoided a COVID-19 Panic. But the Global Recession Will Hit Hard

Taxes and SpendingWorld History

Blog04/04/2020

Whatever happens with the virus, the real story, the real historical change, is probably economic. Abenomics—Japan's ultra-Keynesian experiment—seems to be dead.

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Japan’s Productivity Has Been Slashed By Government Meddling, Not Demographics

Bureaucracy and RegulationMonetary PolicyWorld History

Blog04/03/2020

The popular narrative is that demographics are driving Japan's declining worker productivity. But the real culprit is government regulations and a lack of entrepreneurship.

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Japanization: 30 Years of Failed Economic "Stimulus"

Labor and WagesMonetary PolicyWorld History

Real wages in Japan have been declining thanks to decades of expansionary monetary and fiscal policies. Now "Japanization" increasingly looks like a fate that awaits Europe.

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July Money-Supply Growth Rate Climbs to Six-Month High

Money Supply

Blog08/30/2019

In July, year-over-year growth in the money supply was at 2.19 percent. That was up slightly from June's rate of 1.98 percent, but was well down from July 2018's rate of 4.07 percent.

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June Money-Supply Growth Falls to Third-Lowest Growth Rate Since 2007

Money Supply

Blog07/23/2019

In June, year-over-year growth in the money supply was at 1.98 percent. That was down slightly from May's rate of 2.10 percent, and was well down from June 2018's rate of 4.30 percent.

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Japan's Lasting Stagnation Is Hidden Behind Government Statistics

Global EconomyBusiness Cycles

Creative design of statistics cannot solve the persistent crisis. The core of the problem lies in a misguided economic policy that zombifies the Japanese economy and thus undermines prosperity.

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Juan de Mariana on Creating Money Out of Thin Air

Blog05/15/2019

When governments resort to unbacked fiat currency, a many-layered swindle lies hidden behind the appearance of a quick fix.

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