Except that Japan is famously also experienced very low economic growth (plus the same recessions everyone else experienced) over the last two decades. Its money supply doubled though...
Which is why theories of inflation which insist that inflation is equal to how much money the government created are wrong, and theories which don't dismiss the role of other factors aren't.
(especially if the "government printing" theories also fail to understand that the government wanting to spend money isn't dependent on "printing" - at least not in a country like the US and especially not at current bond interest rates - and the private sector wanting to borrow more from banks is)
Or on a more technical level, the interpretation of the Quantity Theory of Money which holds that prices and transaction volumes are relatively steady and so prices are always driven by the money supply is unequivocally falsified by the experience of Japan. Also the US (where inflation didn't double prices of everything over the last couple of years, it was just a bit above normal levels, and you didn't experience deflation or shrinking asset prices when the money supply shrunk a bit a few years ago) or basically any other country and era....
I'm no expert on the Japanese economy, which means I'm not ready to accept the claims about it at face value. Too many times I hear such claims about something I know about, and know why the claims aren't correct or the conclusion is not correct.
