The perception of Japan as some dysfunctional, moribund economy couldn’t be more wrong. People are well off, healthy and there are no signs of homelessness. Cranes, road crews and the foundations for new bridges can be seen all around People are just measuring the wrong thing.
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In general worker productivity has seen rapid growth and UE is much lower than in Europe and still lower than the US. Productivity growth mostly benefits consumers given low inflation. They adopt technology at a much more rapid pace, have very safe cities and stable families.
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Replying to @HayekAndKeynes
But deflationnnnnnnnnnnn!
9:02 PM - 9 Apr 2019
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