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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.
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.
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.