Avi Davis and I committed science on the lingering economic problems of the United States at Western Word Radio.
And speaking of those problems, Elusive Wapiti reviews RGD on Amazon:
Day’s book starts off with a description of Tokyo in its late 1980’s heyday, before the boom went bust and the nation some thought would rule the world has suffered from nearly twenty years of flat economic growth and stagnation. And Japan’s “lost decades” is an apt metaphor for what Day thinks is in store for America, and indeed, most of the world. Day illustrates the inevitability of credit-fuelled investment booms turning to bust, how the tools used to control the economy are crude, clumsily used, and ineffectual approximations, how it is de rigeur for a central bank with monopoly over the money supply to inflate, inflate, inflate, how stimulus is but more fuel on the bubble-bust fire, and how much further we have to fall today, given the stratospheric heights we’ve climbed to in successive investment booms, than our forebears did in Great Depression 1. In all, it makes for a sobering read.