LISTEN: Noah Smith On Abenomics

“The whole Japanese model is a corporatist welfare social model. People are ambivalent about the need to change that.” – Noah Smith

 

I highly recommend listening to Noah Smith on Abenomics over at Alphachat from the Financial Times.

It really lays out how Japan is the biggest economy that has never experienced supply-side reform.

I particularly like the discussion about “zombie companies” being propped up by cheap loans from banks they have cross-shareholding relationships with.

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