The Moral Equivalent of Space Aliens by Krugman

David Pilling , writing in the FT, suggests that it was the double shock of the 2011 tsunami and China’s overtaking of Japan as the number 2 economy by market value. These shocks, he argues, broke through the fatalism and convinced the Japanese elite that something must be done.

Economists See Deficit Emphasis as Impeding Recovery by Jackie Calmes and Jonathan Weisman