Financially, Japan is fast becoming a Keynesian dystopia. Its entire economy is now hostage to a fiscal time bomb. Namely: a national debt that already exceeds 240% of GDP, and which is growing rapidly because even the recent painful increase in the sales tax from 5% to 8% is not even …

June 16, 2014 by Phil Magnes In the past few days, Thomas Piketty and a few of his more unscrupulous defenders have begun to declare the data controversy surrounding Capital in the Twenty-First Century to be over, following the publication of Piketty’s response to Chris Giles of the Financial Times. I argue that the controversy is not …