Japan's Lost Decades
Japan's central bank raised interest rates for the first time in 17 years, marking a significant event in the country's economic history after experiencing a prolonged period of stagnation. This episode of Planet Money explores Japan's Lost Decades, shedding light on how one of the most advanced economies in the world faced a sudden economic downturn and struggled to recover.
Key Points
- Japan's rapid economic growth in the 1980s
- Sudden downturn in the early 1990s leading to decades of stagnation
- Implications for modern economies and new approaches to economic challenges
Pros
- Insightful analysis of Japan's economic history
- Exploration of the factors contributing to Japan's economic stagnation
Cons
- Limited focus on potential solutions to Japan's economic challenges