A couple of years ago, Japan’s Prime Minister Shinzo Abe instituted a program that made Keynesians everywhere wer their pants with joy. Abenomic consisted of fiscal stimulus (i.e., spending), quantitative easement (aka inflation) and structural reform. The result?
Japan is now in a recession. Oh, and their debt is up 230% of the GDP.
Now doubtless the Keynesians will have explanations for it. Keynesianism can never fail; it can only be failed. The Hoover … Read more