HIST 1708 Lecture Notes - Lecture 37: All She Was Worth, Money Supply
Document Summary
Japan in the 1970s-90s: bust, boom, and bust again. The end of "high growth" in the 1970s. Increase in money supply, over-in ated asset(land) prices, expansion of credit(derefulation of banks) Credit contracts, banks sitting on bad loans fail, individuals go bankrupt, gdp falls. Japan"s ration of government debt to gdp = 11% in 1990. Japan"s ration of government debt to gdp = 227% in 2014. U. s. "s ratio of government debt to gdp = 71% in 2013. Personal debt and the stigma of nancial insolvency: all she was worth insolvent(adj) not having enough money to pay debts stigma(n) a set of negative and often unfair beliefs that a society or group of people have about something. Changes in the structure of work, marriage, and family. Need for new social policies to address work, marriage, population decline issues.
