That&#x27;s what I thought after the 1989 crash. But look at the Nikkei stock index.[1] It peaked above 37000 in 1989, and bottomed out around 7000 in 2010. Today, it&#x27;s around 20000.<p>I was expecting Japan to figure out how to become a successful post-industrial society. But no. Government attempts to fix the economy have mostly involved heavy spending on infrastructure, which beats the US approach of pumping money into the banking system. At least the infrastructure is in good shape. But Japan hasn&#x27;t returned to being the industrial powerhouse it once was.<p>[1] <a href="http:&#x2F;&#x2F;www.forecast-chart.com&#x2F;historical-nikkei-225.html" rel="nofollow">http:&#x2F;&#x2F;www.forecast-chart.com&#x2F;historical-nikkei-225.html</a>