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Socialism Today

Socialism Today The monthly journal of the Socialist Party

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When bubbles burst
Biggest-ever Keynesian programme
Political paralysis
It hurts when bubbles burst

With the US economy now clearly in a downspin, parallels are being drawn with the situation ten years ago when Japan's stock market 'bubble' collapsed, plunging the economy into a prolonged period of stagnation. LAURENCE COATES looks at the Japanese experience.
This article first appeared in Offensiv, the weekly paper of Rättvisepartiet Socialisterna (Socialist Justice Party), the Swedish section of the Committee for a Workers' International.
AT THIS YEAR'S World Economic Forum in Davos, Japan's prime minister Yoshiro Mori revealed that the so-called 'lost decade' of the 1990s had cost the Japanese people 1000 trillion yen ($8,000bn), an amount equivalent to twice the country's gross......


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Approximate Word Count: 3187
Approximate Pages: 13 (250 words per double-spaced page)

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