Sweden vs Japan: Japan!

[lsanderson]

Too Little of a Good Thing

By PAUL KRUGMAN
Published: November 1, 2009

The good news is that the American Recovery and Reinvestment Act, a k a the Obama stimulus plan, is working just about the way textbook macroeconomics said it would. But that’s also the bad news — because the same textbook analysis says that the stimulus was far too small given the scale of our economic problems. Unless something changes drastically, we’re looking at many years of high unemployment. More