Description
Condition: BRAND NEW
ISBN: 9780470824948
Year: 2009
Publisher: John Wiley & Sons (Asia)
Pages: 356
Description:
The revised edition of this highly acclaimed work presents crucial
lessons from Japan's recession that could aid the US and other
economies as they struggle to recover from the current financial
crisis.
This book is about Japan's 15-year long recession and how it
affected current theoretical thinking about its causes and cures.
It has a detailed explanation on what happened to Japan, but the
discoveries made are so far-reaching that a large portion of
economics literature will have to be modified to accommodate
another half to the macroeconomic spectrum of possibilities that
conventional theorists have overlooked.
The author developed the idea of yin and yang business cycles
where the conventional world of profit maximization is the yang and
the world of balance sheet recession, where companies are
minimizing debt, is the yin. Once so divided, many varied theories
developed in macro economics since the 1930s can be nicely
categorized into a single comprehensive theory- The Holy Grail
of Macro Economics
ISBN: 9780470824948
Year: 2009
Publisher: John Wiley & Sons (Asia)
Pages: 356
Description:
The revised edition of this highly acclaimed work presents crucial
lessons from Japan's recession that could aid the US and other
economies as they struggle to recover from the current financial
crisis.
This book is about Japan's 15-year long recession and how it
affected current theoretical thinking about its causes and cures.
It has a detailed explanation on what happened to Japan, but the
discoveries made are so far-reaching that a large portion of
economics literature will have to be modified to accommodate
another half to the macroeconomic spectrum of possibilities that
conventional theorists have overlooked.
The author developed the idea of yin and yang business cycles
where the conventional world of profit maximization is the yang and
the world of balance sheet recession, where companies are
minimizing debt, is the yin. Once so divided, many varied theories
developed in macro economics since the 1930s can be nicely
categorized into a single comprehensive theory- The Holy Grail
of Macro Economics