Elliott Parker For the Nevada Appeal

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December 18, 2011
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Elliott Parker: What happened to Japan?

As our nation seems to be stuck in an economic inversion, with gray skies everywhere and nothing really moving, we wonder what to do and what the future will bring. It might be instructive to consider the case of Japan.

Japan was the world's fastest growing economy after WWII, with an 8.1 percent annual growth rate in Gross Domestic Product per person from 1955 to 1973. After the oil crisis of the mid-1970s, this growth rate fell to 3.4 percent per capita through 1990, still almost twice the rate of U.S. growth.

After the so-called Heisei bubble economy crashed in …

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The Nevada Appeal Updated Dec 18, 2011 01:43AM Published Dec 18, 2011 01:42AM Copyright 2011 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.