¡SilverRevolución!: 31 Mar 2011

Fukushima nuclear plant to be entombed in concrete as Japan admits it has lost battle with crippled reactors

Radioactivity levels in the ocean 4,385 times above regulatory limit
Fisherman warned not to operate within 12 miles of plant
Compensation claims could top $12bn
Power firm's shares lose 80% of value - may need government bailout
President still recovering in hospital recovering from 'fatigue and stress'
U.S. sends specialist Marine unit to assist in decontamination
Traces of radioactive particles found in U.S. milk

Japan has finally conceded defeat in the battle to contain radiation at four of its crippled reactors and they will be closed down.

Details of how this will be done are yet to be revealed, but officials said it would mean switching off all power and abandoning attempts to keep the nuclear fuel rods cool.

The final move would involve pouring tonnes of concrete on the reactors to seal them in tombs and ensure radiation does not leak out.

Read more: Fukushima nuclear plant to be entombed in concrete as Japan admits it has lost battle with crippled reactors

Government Spending Is Bad Economics

The debate about whether or not government spending is a useful countercyclical tool has been revived by the continuing economic crisis. Today, the discussion has been politicized and deals almost exclusively with the size of government debt, focusing on the tax burden this debt represents for future generations and whether or not further debt will help stimulate the economy. Politically, the result has been a middle-of-the-road fiscal policy that has left no economist satisfied. Academically, the debate is generally split between free-market and Keynesian schools of thought, with each side arguing for a policy very different from those already implemented.