Japan Courts Growth While Europe Keeps Up Austerity - NYTimes.com
▻http://www.nytimes.com/2013/05/17/world/europe/japan-courts-growth-while-europe-keeps-up-austerity.html?nl=todaysheadlines
Even as Europe fell deeper into what just became its longest recession since World War II, Japan posted an unexpectedly robust growth rate of 3.5 percent under the bold new stimulus measures championed by Prime Minister Shinzo Abe — precisely the medicine many have urged European leaders to take.
“The elites in Europe don’t learn,” said Stephan Schulmeister, an economist with the Austrian Institute of Economic Research. “Instead of saying, ‘Something goes wrong, we have to reconsider or find a different navigation map, change course,’ instead what happens is more of the same.”