Bill Mitchell: The monetary institutions are the same – but culture dictates the choices we make

Neoliberalism has perverted the way we manipulate the powers of our economic institutions in such a way that we benefit the elites more than the rest.

These are essentially the same institutions that the Japanese government has at its disposal.

But the cultural aspects that dominate (still) in Japan force their government to make different choices.

Just the fact they hate unemployment ensures policies will be different.

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