This volume investigates the origins and implications of Japan's prolonged economic stagnation following decades of rapid growth. The book examines the collapse of the equity and real estate bubbles in the late 1980s, analyzing their connection to the subsequent downturn in economic growth and the onset of deflation. It critically assesses the ineffectiveness of Japanese monetary and fiscal policies in reversing this decline. The author explores various policy options, ultimately concluding that Japan's economic recovery remains uncertain due to a lack of political will to implement necessary measures.

The book is regarded as a thorough examination of Japan's economic challenges during its 'lost decade'. It is noted for its detailed analysis of the bubble economy's collapse and the subsequent policy failures. Experts and readers alike have pointed to its comprehensive scope in tracing the roots of the crisis and evaluating potential solutions. The conclusion regarding the uncertain prospects for recovery due to political inertia is a frequently cited point.