China and Japan Choose Different Solutions to No Growth Economies

In a remarkable article on August 17th in the Wall Street Journal titled “Japan as Number Three,”the Wall Street Journal discusses the Chinese Economy’s ascent to succeed Japan as the second largest economy in the world.[i] The most extraordinary revelations are that the Chinese, under the hardship of communism, were able to employ “free market principles” first in small agriculture and then in small manufacturing to liberate their economy from the economic ideology and stagnation of communism. Unfortunately, the Japanese, after their economic bubble burst in 1990, employed the Keynesian government spending model to attempt to stimulate their economic growth. By 2010, after two decades of lost opportunity, they have realized that Keynesian spending still doesn’t work.
For a more detailed study of these two countries economic history and progress, as well as many other nations, see Chapter 2 (“We Search the Globe For the Green Paradises of Liberalism”) in my new book, A Simple Guide: How Liberalism, A Euphemism For Socialism, Destroys Peoples and Nations.
You will observe what economic policies produce large increases in per capita income and what economic principles reduce nations to economic privation. You will not be bored.
[i] “Japan as Number Three.” The Wall Street Journal. 17 August 2010: A18. Print.

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