Japan and Two World Economic Depressions

Martin Bronfenbrenner

Chapter 4 in Japan and World Depression, 1987, pp 32-51 from Palgrave Macmillan

Abstract: Abstract This title is taken from Professor Penrose himself.1 His two-part essay was presumably written during the academic year 1934–5, a time of ‘false recovery’ 2 from the Great Depression of the 1930s. My own effort has two aims: (1) to comment on Penrose’s discussion of Japan in the early 1930s in the cold, clear light of hindsight, and (2) to compare that period with Japan’s role in the current world economic malaise — depression seems too strong a term. (This malaise, or depression if you insist, is also experiencing as I write — autumn 1983 — what may be a ‘false recovery’.3)

Keywords: Public Expenditure; Money Supply; Public Security; Saving Ratio; Economic Miracle (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-07520-1_4

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DOI: 10.1007/978-1-349-07520-1_4

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