AuthorTopic: Japan Is Still The Future  (Read 1213 times)

Offline g

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Japan Is Still The Future
« on: January 16, 2013, 03:50:53 AM »
Top Shelf article, thought provoking.


It's been a while since I wrote Is Japan The Future? In it I noted that the difficulties that the western world is now experiencing were forshadowed by Japan twenty years ago. Much of what we've been wrigning our hands about is old news in Japan: a burst real estate bubble, shrinking birthrates, a stagnant economy, lowered consumption, deflation , etc. I posited that Japan provides a reasonably good model of how to deal with world of shrinking opportunity at the government and individual levels, rather than looking for some sort of magical "growth" or "innovation" like a modern-day cargo cult. Here a few recent articles with similar conclusions:

    But just as America is not the Second Republic, Japan is not its political regime.  If we look out to longer horizons Japan has a bright future. Japan might have the formula for success in the 21st century:

    1.A highly educated and hard-working people with a high-savings rate (the foundation for economic success),

    2.a homogeneous population with strong social cohesion (avoiding the internal turbulence possible in multi-ethnic societies), and

    3.a shrinking population.

    The latter is usually considered a negative, especially compared with exceptional America with its large numbers of families that breed like bunnies. Some economists believe a falling population means economic decline, pointing to formulas that show more people = more national income. Thatís mad for an over-crowded island like Japan.  And it is probably wrong about the nature of national prosperity in the 21st century.     :icon_study:

Offline RE

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Re: Japan Is Still The Future
« Reply #1 on: January 16, 2013, 12:37:02 PM »
Yup, Japan is the FUTURE for sure.  A real Canary in the Coal Mine.

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Offline Petty Tyrant

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Re: Japan Is Still The Future
« Reply #2 on: January 16, 2013, 11:02:26 PM »
I read the whole thing, which avoids the question of what happens to the debt, praising and advocating even more govt spending is fine other than that minor detail.


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