As the president heads to the G-20 conference, one of America’s most respected international economists warns that the Geithner plan repeats the same errors Japan made in the 1990s. By Adam S. Posen.
Adam Posen is the Deputy Director of the Peterson Institute for International Economics. Paul Krugman states that Posen is “the go-to guy for understanding Japan’s lost decade.” He has been an adviser to the Federal Reserve Board, Japan’s Ministry of Economy, Trade, and Industry, the International Monetary Fund, the European Central Bank, and the Bank of England. Among other books he is coauthor with Ben Bernanke et al. of Inflation Targeting: Lessons from the International Experience.