Genuinely held austarity-type ideologies are popular among people who care a lot about central banking (possibly due to the great depression?), and I’m guessing that’s what happened at the BoJ. It seems to be what happened in the US, which made similar mistakes, though less badly.
Genuinely held austarity-type ideologies are popular among people who care a lot about central banking (possibly due to the great depression?), and I’m guessing that’s what happened at the BoJ. It seems to be what happened in the US, which made similar mistakes, though less badly.