Tuesday, June 8, 2010


Stephen Spruiell:
William Galston has written an excellent piece for TNR asking an important question that I haven't heard the Keynesians answer: If the U.S. is more like Japan circa 1992 than Greece circa 2009, and Japan is still mired in a recessionary funk after a decade of low-quality growth, then why are we using the same policy tools that Japan used to fight the recession?