Part 1 of Essay
“Once upon a time there was a densely populated island nation, which, despite its lack of natural resources, had managed through hard work and ingenuity to build itself into one of the world’s major industrial powers. But there came a time when the magic stopped working. A brief, overheated boom was followed by a slump t ....

Part 2 of Essay
.... day Japan and Great Britain of the 1920s. In both cases, monetary policy has been blamed for contributing to sinking of these economic Titanics. With this in mind, the purpose of this paper is to explore the failure of Japanese monetary policy to deal with its present economic crisis. Background and the Problem During the 1980s, policy makers and economists throughout the world envied Japan as a successful model of a strong global economy. Real GDP growth ranged from 4%-6% from 1984 until the economic bu ....