The Japanese government hires one million people. Compare this to the 1.7 million hired by the US government, to govern a population thrice as large as Japan’s. I don’t advocate kicking people out of jobs, but there are clearly inefficiencies that must be eliminated.
[Japan] bought 179 F-35s when they’ve only built 63 (ever) [i.e. when only 63 have been built – by the U.S., that is, Japan doesn’t build them] and cost hundreds of millions of dollars per aircraft.
subsidies for electric cars (for why this might not be a good idea, Google “Broken Window Fallacy“, or, like the author of Save Japan, read Hazlitt’s classic “Economics in One Lesson“; free PDF download available from Mises.org)
- Hamish McRae: We can’t carry on living off all this free money from QE (independent.co.uk)
- Japan Looks Beyond Its Borders for Investors (nytimes.com)
- Japan’s misleading recovery (theglobeandmail.com)
- Is Japan next? (finance.fortune.cnn.com)
- Japan’s Demographic Doom (ibtimes.com)