The Great Deflation - Japan Goes From Dynamic to Disheartened - NYTimes.com - 0 views
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anonymous on 18 Oct 10"Now, as the United States and other Western nations struggle to recover from a debt and property bubble of their own, a growing number of economists are pointing to Japan as a dark vision of the future. Even as the Federal Reserve chairman, Ben S. Bernanke, prepares a fresh round of unconventional measures to stimulate the economy, there are growing fears that the United States and many European economies could face a prolonged period of slow growth or even, in the worst case, deflation, something not seen on a sustained basis outside Japan since the Great Depression. "
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anonymous on 18 Oct 10The TOK question here is can you compare Japan of the 1990s with the US and Western Europe of today? To what degree can economists, or any human scientists, suggest that one complex situation is "like" another one?