Japan Society of Fairfield County
The Lost Decade in Japan
and the Subprime Crisis in the USA
The Japan Society of Fairfield County and The
Historical Society of
Greenwich collaborated on a talk titled The Lost Decade in Japan and
the Subprime Crisis in the USA at the historical society.
Professor Koichi Hamada, Tuntex Professor of
Economics at Yale
University and former member of Japan's Cabinet Office (2001-2003),
discussed how the subprime crisis in the U.S. compared with the lost
decade of Japan in the 1990s, both fueled by a malfunctioning real
estate market, and asked what lessons can be learned by the U.S. from
Japan’s experience.
Jim Himes, who represents Connecticut’s Fourth
District in the US House
of Representatives, joined Professor Hamada, in a dialogue with the
audience and offer commentary on the present-day subprime mortgage
crisis and its future outlook. “I was so pleased to participate in the
Japan Society of Fairfield County’s effort to help citizens stay
informed on the challenging issues we face in an increasingly complex
world,” said Congressman Himes. “Education is a critical piece of civic
engagement, and I applaud the Society and its members for this
program.” (VH)
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