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Gnarlsaurus_Sketch t1_jd31k2r wrote

Reply to comment by 69FunnyNumberGuy420 in Let's pour one out for the developers of Pittsburgh by PublicCommenter

>capital-holding classes

lol, that's a loaded phrase if I ever saw one. I've been called worse.

I'd chalk Japan's lost decades up to too much micromanaging by the Bank of Japan, a liquidity trap, and bad demographics (birthrate too low).

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69FunnyNumberGuy420 t1_jd31ujj wrote

> I'd chalk Japan's lost decades up to too much micromanaging by the Bank of Japan,

 
Read the book, the entire issue started when the Chicago School guys came back and said BoJ meddled too much that they had to move to a "free market" solution since those were the only thing that worked. Whoops!
https://www.amazon.com/Princes-Yen-Central-Bankers-Transformation/dp/0765610493
 
Prior to the 1980s Japan had basically a command economy pointed towards producing consumer goods.

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