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VIDEO: PRINCES OF THE YEN



During the early 1990s the Japanese stock market dropped by 80% and house prices by up to 84%. The film, based on the book by Professor Richard Werner, a visiting researcher at the Bank of Japan, contends that this was mainly because of dislocation caused by a generally unacknowledged change in the economic system, from a hidden command economy to a market economy. After the war, Japan was effectively allowed to continue on a war footing in economic terms, which allowed the efficient Japanese economy to conquer important market areas.

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