It may be that the lived experience in Japan during the Bretten Woods period of the post-war global trade boom was substantially more positive than the Japanese experience during the globalization period that followed, with its explosion of capital flows.

The globalization phase, after all, was the period with both the lost decade and the current recession.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.