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To: Wyätt Gwyön who wrote (2030)3/14/2004 9:33:01 PM
From: CalculatedRisk  Read Replies (1) | Respond to of 116555
 
Krugman doesn't think Japan followed his advice. And clearly Japan's program wasn't "Keynesian"! (Keynes gets a bad rap these days, most deficits aren't Keynesian - they are just bad policy)

But I agree with you on two counts: Japan's policy has been confused, and they have ended up with a terrible credit rating for their efforts.

Bad policy = bad results! Just look at Bush.



To: Wyätt Gwyön who wrote (2030)3/15/2004 9:56:55 AM
From: russwinter  Read Replies (1) | Respond to of 116555
 
How would the bogus excess capacity and output gap theory classify the European steel mills (see foreign steel) in this letter? Not enough pricing power?

Message 19886876


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