Despite the hysteria of mainstream economists, Japan's economy seems to be doing okay. So why does Professor Bill Mitchell (co-founder of Modern Monetary Theory) want to shock the Japanese economy? Bill talks about his ongoing work at Kyoto University, where he is involved with a team of academics who advise the current Japanese Prime Minister, Sanae Takaichi. We discuss the currency-issuing capacity of government, the nature of deficits, and the unusual occurrences of surpluses.  Show Notes Video – Japan at a Crossroads: Fiscal Policy, China, and the GrowthMore about Bill Mitchell's work in Japan, from his blog. Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. Funky Kingston by Toots & the Maytals