Regarding the Japanese experience--it is my impression that while the
growth collapse was contained--average incomes plummeted and never
recovered and that work became far more insecure with an ever growing
percentage of irregular work, also more homelessness etc. In other
words, that there was a qualitative decline in quality of life for the
average person.
Is this a correct impression?
Marty
Doug Henwood wrote:
On Feb 4, 2009, at 2:33 PM, Jim Devine wrote:
like Japan during the 1990s? except on a global scale?
That really wasn't all *that* terrible.
Doug
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