-->Explaining Japan's Recession
by Benjamin Powell

[Posted December 3, 2002]

After decades of"miracle" economic growth since World War II, Japan's economy abruptly faltered in 1990 and has stagnated since. Why? Neither the Keynesian nor Monetarist explanations can provide an account. Only the Austrian theory of the business cycle provides the explanation.


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http://www.mises.org/fullstory.asp?control=1099[/link]