Paul Krugman's Worn-Out Ideas for Japan

Let’s get over this honeymoon for Japan’s new prime minister, Shinzo Abe, and do a reality check on his idea that the economy is about to boom now that voters have returned him to office.

At first, I wondered if I had lost my bearings. Was I just hopelessly cynical after 11 years in Tokyo, watching a numbing parade of inept leaders come and go as the Liberal Democratic Party pledged change that never arrived? The steps Abe has taken in the first few weeks of his latest premiership restored my faith in the merits of skepticism.

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