"If you look at the statistics of the Japanese economy around 1995–1997, it had a couple of years of 2–3 percent growth. That was the Keynesian influence of the then-head of the Economic Planning Agency. He was a good Japanese exponent of Keynesianism. Japan built beautiful bridges and other infrastructure, but abandoned these sorts of projects because its debt is so big, and its deficit is so big, that it will not do them anymore. … I think Japan could stand a really good Keynesian sustained stimulus."