The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession (Paperback)
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Short Description for The Holy Grail of Macroeconomics 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.
Full description- Publisher: John Wiley & Sons Ltd
- Published: 17 August 2009
- Format: Paperback 356 pages
- See: Full bibliographic data
- Categories: Economics | Macroeconomics
- ISBN 13: 9780470824948 ISBN 10: 0470824948
- Sales rank: 70,719
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Full description for The Holy Grail of Macroeconomics
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
