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LAURENCE COATES looks at the Japanese experience.
This article first appeared in Offensiv, the weekly paper of Rattvisepartiet Socialisterna (Socialist Justice Party), the Swedish section of the Committee for a Workers' International.
AT THIS YEAR'S World Economic Forum in Davos, Japan's prime minister Yoshiro Mori revealed that the so-called 'lost decade' of the 1990s had cost the Japanese people 1000 trillion yen ($8,000bn), an amount equivalent to twice the country's gross domestic product (GDP). At the same meeting, Goldman Sachs economist Kenneth Courtis summed up the mood of world capitalism: 'The only way you can be optimistic about Japan is to look at the charts upside down'...
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