“Japan may be the poster child for reckless and irresponsible tax and spending policy. Even though the public sector already is far too big and even though the government has incurred more debt than any other developed economy, the new Prime Minister thinks another Keynesian stimulus package is the recipe for economic revival. I’m not joking. Even though the economy has been stagnant for 20 years – a period that has seen several so-called stimulus schemes, the government wants to throw good money after bad.”
