Japan's 30-Year Economic Slump Defied Expectations and Changed Economic Thinking
- Japan had a booming economy in the 1980s but fell into stagnation starting in the early 1990s
- The economic slump lasted for 30 years, puzzling economists
- Interest rates were kept near zero for 17 years trying to revive growth
- Japan went from the 2nd largest economy to one of the slowest growing
- The long slump changed our understanding of what can go wrong in modern economies
