Masaaki Shirakawa, Former Governor of the Bank of Japan: "Failure in Making a Big Macroeconomic Assessment of the Financial Crisis"

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There have been failures in monetary policy in the 80 years since the end of the war. The 1970s led to what was called "crazy" high inflation, and the 1980s fostered a real estate bubble. Masaaki Shirakawa, who served as Governor of the Bank of Japan from 2008 to 2013, reflected that "the country as a whole failed to make a big macroeconomic assessment." (Interviewer: Juntaro Arai) -- There were also incidents during the 80 years that were point…