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In this program, noted correspondent Paul Solman inquires into how Japan’s star economy fizzled out—and why America deceived itself regarding Japan Inc. Seth Sulkin, President of Pacifica Corporation; Professor Yoshi Tsurumi; and investment banker Eugene Dattle present crony capitalism, flawed financial institutions, a dearth of skilled public regulation, and Yakuza involvement as factors that led to bursting Japan’s economic bubble. But not all pundits repudiate their earlier opinions: Ezra Vogel, author of Japan as Number One, and MIT professor Paul Krugman defend their past assessments of Japan’s economy. (12 minutes)
