[PEN-L:8262] Re: Japan as a wave of our future

1997-01-16 Thread Anthony P D'Costa
This is interesting because I was always under the impression that state intervention has been rather high in Japan. Perhaps this intervention does not show up as a budget deficit, but directing the economy to raise aggregate demand has always been a Japanese feature. This has been done largely

[PEN-L:8262] Re: Japan as a wave of our future

1997-01-16 Thread Anthony P D'Costa
This is interesting because I was always under the impression that state intervention has been rather high in Japan. Perhaps this intervention does not show up as a budget deficit, but directing the economy to raise aggregate demand has always been a Japanese feature. This has been done largely