"(Posen) offers a trenchant examination of Japanese fiscal policy during the 1990s ... He persuasively debunks the argument that fiscal stimulus cannot work in Japan ..."
"An excellent book."
The Financial Times
"Japan's persistent stagnation is among the most important problems confronting the world economy today, and Adam Posen's treatment of it is the best I have seen. His analysis is right on the mark..."
—Benjamin Friedman and
William Joseph Maier
Professor of Political Economy
"Its analysis is convincing, and its policy recommendations are ... sensible. I strongly recommend it to economists and policymakers alike. I ... hope that Japanese policymakers have the wisdom to heed his advice."
—Charles Yuji Horioka
and National Bureau of Economic Research
Journal of Economic Literature