Deja Vu All Over Again: What Are The Chances That The United States Follows Japan's...

Little more than a decade ago, Japan, like the United States today, was on top of the world. Tokyo officials prided themselves on Japan's high productivity growth and booming financial markets, which led to a sense of cultural superiority. The world was scrambling to figure out how to adapt to the Japanese model. Meanwhile, Japan's political system was weak with little real division between parties, which were dominated financially by a vast array of special interests. In this highly leveraged economy, most felt the positive situation would last forever. Does the United States tod