America Has No Natural Right to Remain Free from Recession
King, Stephen, The Independent (London, England)
THE NATURE versus nurture debate is common enough in most studies of human behaviour. Think, for example, of the vast tomes devoted to the issue in the field of psychology. Or consider that favourite of the school English literature syllabus, Lord of the Flies. When it comes to debates on relative economic performance, however, nature seems to rule.
Japan is in trouble because, by definition, its economic system just doesn't work. We know this because Japan has been through over a decade of unpleasant deflationary adjustment. The US, on the other hand, is absolutely fine because it's been a success through much of the last decade and, therefore, must know how to get …
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Publication information: Article title: America Has No Natural Right to Remain Free from Recession. Contributors: King, Stephen - Author. Newspaper title: The Independent (London, England). Publication date: January 2, 2003. Page number: 17. © 2009 The Independent - London. Provided by ProQuest LLC. All Rights Reserved.
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