Re: [Pen-l] Democrats to placate Republicans on recovery plan

[Doug Henwood <dhenwood@xxxxxxxxx>]

On Feb 4, 2009, at 2:44 PM, Martin Hart-Landsberg wrote:

> Regarding the Japanese experience--it is my impression that while  
> the growth collapse was contained--average incomes plummeted and  
> never recovered and that work became far more insecure with an ever  
> growing percentage of irregular work, also more homelessness etc. In  
> other words, that there was a qualitative decline in quality of life  
> for the average person.

You mean that Japan in crisis became more like the U.S. in "normal"  
times?

Yes, I think your impression is correct, but considering the magnitude  
of the financial bust, that real-world fallout was relatively mild.

Doug
_______________________________________________
pen-l mailing list
pen-l@xxxxxxxxxxxxxxxxxx
https://lists.csuchico.edu/mailman/listinfo/pen-l