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Who Is the BOJ’s New Board Nominee?
The title of Yutaka Harada’s recent book says it all: “Reflationist Economics Has Saved Japan.” The Waseda University professor is a big believer in the monetary “bazookas” fired by Bank of Japan Gov. Haruhiko Kuroda, which have flooded the financial system with tens of trillions of yen in an attempt to create inflation. For Mr. Harada, who was nominated Thursday to join Mr. Kuroda as one of the nine BOJ board members, this is no academic exercise. He contends in his book that a rise in Japan’s suicide rate during the 2000s–reaching a peak of more than 30,000 a year–was partly a byproduct of ... (full story)