Japan is showing the world that stimulus works

More than five years after the financial crisis hit its peak, the world is still far from recovering the ground lost. Tens of millions of people in the wealthy countries of North America and Europe remain unemployed or underemployed as a result of the collapse of the housing bubbles that had driven their economies in the pre-crisis period.
This downturn has robbed workers of the opportunity to have a decent job and income necessary to raise their children. It has also resulted in trillions of dollars of lost output. Millions of workers who could have been employed improving our infrastructure, making our homes and businesses more energy efficient, or better educating our children have instead been left idle.

Read more
Photo: Toru Hanai/Reuters

Japan is showing the world that stimulus works

More than five years after the financial crisis hit its peak, the world is still far from recovering the ground lost. Tens of millions of people in the wealthy countries of North America and Europe remain unemployed or underemployed as a result of the collapse of the housing bubbles that had driven their economies in the pre-crisis period.

This downturn has robbed workers of the opportunity to have a decent job and income necessary to raise their children. It has also resulted in trillions of dollars of lost output. Millions of workers who could have been employed improving our infrastructure, making our homes and businesses more energy efficient, or better educating our children have instead been left idle.

Read more

Photo: Toru Hanai/Reuters