The revised edition of this highly acclaimed work presents crucial lessons from Japan’s recession that could aid the US and other economies as they struggle to recover from the current financial crisis. This book is about Japan’s 15-year long recession and how it affected current theoretical thinking about its causes and cures. It has a detailed explanation on what happened to Japan, but the discoveries made are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macroeconomic spectrum of possibilities that conventional theorists have overlooked. The author developed the idea of yin and yang business cycles where the conventional world of profit maximization is the yang and the world of balance sheet recession, where companies are minimizing debt, is the yin. Once so divided, many varied theories developed in macro economics since the 1930s can be nicely categorized into a single comprehensive theory- The Holy Grail of Macro Economics
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终于找到一本能够简洁且正确阐释大萧条原因的书。原版书也没有阅读障碍。
评分终于找到一本能够简洁且正确阐释大萧条原因的书。原版书也没有阅读障碍。
评分Dr.Koo asserted, F*** the orthodox pundits!
评分看到一半实在看不下去了，反复重复一件事就是：日本企业忙着清理资产负债表的巨额债务，传统财政和货币政策不管用了。重复的实在没新意。
评分Dr.Koo asserted, F*** the orthodox pundits!
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