No. of Recommendations: 3
In Ben Bernanke’s autobiography, he points to the difference in business culture between the US and Japan as precisely why it took Japan so long to financially recover from the post-1980 crash. He shared ideas for getting the correction over with faster, but they already knew, they just prioritize different things.
It’s a matter of prioritizing saving face, and preserving jobs over getting it over with quickly. I’m not convinced our billionaires have what it takes to prioritize keeping regular joes employed and companies functioning over quickly returning to profitability.
