Feb
27
2008
Inflation: Same Old Genie in a New Bottle
Some of us remember when “Made in Japan” meant only one thing: cheap toys. In the decades after World War II, Japan grew from an impoverished provider of cheap trinkets into a world economic power producing some of the best quality, most innovative, and most expensive products in the world. Today, goods from Japan, while offering great value, can also be too expensive for working class Americans. When Japan’s standard of living rose dramatically in the late 1970s and 1980s, the resulting economic disruption rippled throughout the world economy. Japan’s growing wealth – and rising export prices – affected all of the country’s trading partners.
Categories: Finance
0 comments - Posted by Paul Orfalea at 8:25 AM