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Offering an introduction to the Japanese political system, this book covers the end of the Koizumi era, the brief and troubled premiership of Abe, and the selection of Fukuda as prime minister. It includes material on \"bubble\" and \"post-bubble\" economic developments, as well as coverage of health care policy.

In a recently published essay, \"What Has Happened to the Rate of Interest?\", Professor D. H. Robertson emphasized that his primary concern was what had happened to the interest rate in the \"world of theory\" rather than in the \"world of fact.\" Professor Coulborn's article in this issue of the Southern economic Journal is also an excellent review of interest rate developments, post-Keynes, in the \"world of theory.\" Much of the voluminous literature on the subject of interest rates is similarly confined to the purely theoretical aspects.

The monetary policy process-how monetary policy gets put together-is not simply a reflection of the economic circumstances surrounding decisions, both domestic and international, and how policy should react to those circumstances. It is also, and importantly so, a reflection of the leadership in the Federal Reserve System, in particular the chairman of the Federal Reserve Board, and of the perspectives of the policy participants-both the Federal Reserve Board Members and the various Reserve Bank presidents.