New at Reason: Anthony Randazzo on Zombie Businesses and the Bailout

Twenty years ago, Japan's economy was plagued by struggling markets, liquidity concerns, and frozen credit. In response, Japan tried bailing out its banks, investing in infrastructure, and propping up "zombie businesses," firms that would have failed without government intervention. And as the Reason Foundation's Anthony Randazzo writes, unless American policymakers learn from the failures of Japan's response, we will suffer the same zombie fate.

Read all about it here.

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