Japan's Weak Economic Growth Could be Due to Failed Macro Economic Policy

A NYT article that reported on the surge in college education in China told readers, "Japan’s experience shows that having more graduates does not guarantee entrepreneurial creativity," referring to the growth slowdown of the last two decades. While it is possible that a lack of innovation is a factor in this slowdown, it is far from obvious that this is the case. Japan does still have a large trade surplus with the United States, suggesting that U.S. consumers like the things produced in Jap...