Japan - The History of Economics (Documentary)

[@economicsinjapan8076]

*Sources:* Nagoya University: Shigeru T. Otsubo - Post-war Development of the Japanese Economy www.gsid.nagoya-u.ac.jp/sotsubo/Postwar_Development_of_the_Japanese%20Economy(Otsubo_NagoyaU).pdf General information on Japans economic history (JAP) ja.wikipedia.org/wiki/%E6%97%A5%E6%9C%AC%E3%81%AE%E7%B5%8C%E6%B8%88%E5%8F%B2 Japanese economic takeoff after 1945: Report by several authors www.iun.edu/~hisdcl/h207_2002/jecontakeoff.htm ZUUonline article about landprices - Postcard size are over 600,000 yen (JAP) zuuonline.com/archives/161406 Regarding the deposit freeze after war (JAP) leaders-online.jp/tax/zeikin-kessan/2087 Factsandetails.com article about Japans economy during the 70s and 80s factsanddetails.com/japan/cat24/sub155/item903.html Japans bubble - Stock and landprice crash details and numbers (JAP) nikkeiyosoku.com/crash/bubble_economy About the Japanese bubble economy www.thebubblebubble.com/japan-bubble/ Central government debt, total (% of GDP) for Japan fred.stlouisfed.org/series/DEBTTLJPA188A View Japan's Household Income per Capita from 2000 to 2017 in the chart: www.ceicdata.com/en/indicator/japan/annual-household-income-per-capita Sankei Newspaper: Abe Prime Minister: "Many people seem not to feel the benefit of Abenomics" (JAP) www.sankei.com/economy/news/190325/ecn1903250025-n1.html About Lehman crisis (JAP) orekabu.jp/lehmanshock/ Prime Ministers office site: Abenomics (JAP) www.kantei.go.jp/jp/headline/seichosenryaku/sanbonnoya.html About Abenomics in English www.tofugu.com/japan/abenomics-3-arrows/ BoJ Balance Sheet tradingeconomics.com/japan/central-bank-balance-sheet Government Debt to GDP tradingeconomics.com/japan/government-debt-to-gdp Japan Average Monthly Wages tradingeconomics.com/japan/wages Inflation Chart tradingeconomics.com/japan/inflation-cpi Relative poverty: Survey (JAP) www.hinkonstat.net/ Bloomberg article about Japans inequality www.bloomberg.com/graphics/2017-japan-inequality/ Article about delaying the VAT-tax (JAP) venture-finance.jp/archives/1213 Property prices in big cities japanpropertycentral.com/tag/tokyo-apartment-prices/ Japan unemployment rate chart www.ceicdata.com/en/indicator/japan/unemployment-rate Unemployment comparison (OECD) data.oecd.org/unemp/unemployment-rate.htm Ministry of Health Labour and Welfare - Real wages from 2012 to 2018 www.mhlw.go.jp/toukei/itiran/roudou/monthly/30/30r/30r.html Article about "good" and "bad" inflation in Japan (JAP) dot.asahi.com/aera/2016041300154.html?page=2 Japan household debt www.stat.go.jp/data/sav/sokuhou/nen/pdf/h29_gai.pdf Regarding debt between now and after WW2 (JAP) www.rieti.go.jp/jp/papers/contribution/nakajima/03.html Japans national treasury bonds chart (JAP) ja.wikipedia.org/wiki/%E6%97%A5%E6%9C%AC%E5%9B%BD%E5%82%B5#/media/File:National_Debt_of_Japan.svg

[@coda-n6u]

This is a phenomenal video, extremely well researched, and highly appreciated. Thanks!

[@jonathanz701]

That toilet paper crisis is interesting to the modern day. Interesting how history repeats itself.

[@economicsinjapan8076]

I was thinking the same thing... And on top of that, this time it seems to be global

[@ericurban3926]

Should have used all that paper money instead.

[@economicsinjapan8076]

@@ericurban3926 If the central banks keep printing money at this pace, soon it might be more practical!

[@juancassinerio1580]

Bubles are created by the state, markets just flow with the artificial tendency of the politicians. If you want growth, just work and innovate, a slow and steady economic growing is better than an "economic political plan". All growths after a crisis are always due to the markets slowly recuperating, not to money printing or "estimulation".

[@marierugg8286]

I am currently taking International Business right now and I chose Japan for my final project for this class. I was wrestling with a few to choose from but after watching your video I knew I had to choose Japan. The inflation from the Bank of Japan was especially interesting to me, I cited your video many times and can't wait to watch more. I wish you good luck in your academics during this crazy time, stay safe and prosper!

[@economicsinjapan8076]

Good choice! Japan is pretty much leading all the other countries in their YOLO approach with all the quantitative easing, yield curve control and other zombie company life support programs. I also listed the sources I used in the description, so feel free to dive deeper, as there was only so much I managed to compress into this video. Good luck with your project!

[@marierugg8286]

@@economicsinjapan8076 Thank you! I did also referred this video to one of my classmates who happened to pick Japan too. Appreciate you putting this video together!

[@yo_abdou8428]

same

[@sul6ans]

One of my favorite videos on youtube.

[@yussefthe3rd]

Considering the range of issues and the timespan, this is one of the most in depth yet easy to understand videos I've ever seen on this topic! Great job, thank you for taking the time to create and share! Does anyone else find it concerning how close Japan's bubble/stagnation is to what the world has been experiencing since the 2008 Recession? It seems the world is heading for its own Lost Decades :(

[@economicsinjapan8076]

Thanks, I still feel that I only managed to scratch the surface with this video. The truth is always much more complicated and nuanced... Yeah, it is no wonder that the whole world is being "Japanified" as they are following the same aggressive monetary policy which Japan pioneered in their fight with the deflation since the 90s. When this money printing (also known as QE) still hasn't worked to this day, the brightest minds of our counties only deem that "we haven't done enough of it", and print some more.

[@yussefthe3rd]

@@economicsinjapan8076 Was a little surprising to me that this topic is not better covered in English language videos.Worlds 3rd largest economy, and it's almost like it's been forgotten about by the western world

[@KkushagraSharma.17]

This is a really great video. Loved it!

[@istvanmeszaros4112]

Absolutely awesome!!! Thank you!

[@economicsinjapan8076]

Thanks for watching!

[@NigelSequeira-py3kq]

Thank you very much for this excellent video!

[@economicsinjapan8076]

Thanks for watching, making more of these in the future!

[@radheshwarprasad4099]

Interesting video

[@FlavioGangemi]

Great video, very informative and concise!

[@samarramasengi8357]

thank you soooo much for this video. it's very hard for me to understand economic crisises, this video helped a lot.

[@economicsinjapan8076]

Glad I could help!

[@modafalla]

I love your channel, keep it up 👍🏿

[@economicsinjapan8076]

Thanks, I'll try to get a video out sometime soon!

[@evan448]

im doing project on abenomics and your video was excellent way of getting the whole picture of Japan's economy

[@economicsinjapan8076]

Glad to hear it helped you!

[@tariz32]

Nice video. Please do more like this :))

[@huongtran5373]

Wow, thanks for the indept information. It must have been tough to create such a detailed video.

[@economicsinjapan8076]

Thanks for watching! The research part was actually really interesting, because doing that I learned a lot myself

[@a.a.a6936]

Been looking for something this informational and engaging for a while, great video

[@1937852654]

This is the best on youtube right now tbj

[@brunomaluf7588]

Must see video!!!

[@genghiskhan3504]

This is one of the BEST youtube documentaries I have seen - I've seen it 4 times!

[@economicsinjapan8076]

Glad you found it useful! Im thinking of making another economy themed video sometime in the future

[@genghiskhan3504]

@@economicsinjapan8076 Thanks for your answer and congratulations! Why not a doc about the Japanese economy during the Tokugawa Bakufu, the role of mining and commerce, etc., in the rise of the Shogunate economy? I have many papers on that subject to help you!

[@economicsinjapan8076]

@@genghiskhan3504 That sound very interesting! Is there a way I could get acquainted with those papers?

[@genghiskhan3504]

@@economicsinjapan8076 If you have access to a paid academic database (for example, through your University), I can give you the author names and titles; if not, give me your email and I can send some papers to you.

[@economicsinjapan8076]

@@genghiskhan3504Thanks a lot! Could you tell me the names of the author and titles? I'll see if my university database has the access for those

[@trotro80]

Very informative!

[@KixMusaid]

This video is absolutely amazing

[@ngendomuhayimana2158]

Impressively well done, thank you 🙏🏿

[@economicsinjapan8076]

Thanks for watching!

[@nemoincognito4179]

An excellent video! Could you mention the sources (Books) you've used ? Thanks.

[@economicsinjapan8076]

Thanks! Couldn't fit all the sources into the description so I pasted them into a comment on this video!

[@nemoincognito4179]

@@economicsinjapan8076 Could you please pin it. Thanks

[@adityakamath6624]

Great video 👌

[@matthiasnagel1482]

nice summary, I enjoyed watching! although there are some inaccuracies, such as that keiretsu were emerging after the big bang. keiretsu were formed and central to economic growth since the end of WW II. However, your story is not accounting for the role of the Ministry of Finance, Ministry of International Trade and Industry and the Economic Planning Agency. To me the case of Japan, similar to South Korea, is intriguing because economic growth was driven by the state, especially with the use of the central bank and the main bank system to channel finance to productive economic sectors. The irony is that Japan's economic growth was impaired only when Nakasone conducted market-friendly reforms. Therefore, the case of Japan can help to demystify the idea in Western countries that 'free markets' deliver the best economic outcomes.

[@economicsinjapan8076]

Thanks for the insightful comment! I agree that the Keiretsu had already started to form since WW II. The timing that I brought up the word in the video might have been confusing as I wanted to distinguish the different definition for the bank mergers. Is the reason you bring up the Ministry of Finance, Ministry of International Trade and Industry and the Economic Planning Agency, to make the case that through central planning, the government heralded the economic growth instead of free markets? Being a supporter of free market capitalism it is indeed interesting to look at these cases. Could it be that the rapid growth of Japan had more to do with "catching up" than it had to do with the superiority of central planning? China right now (or maybe up until recently) looks like Japan in the 70s-80s and their GDP growth of 6% seems to be teetering. My point is that it is difficult to make the causal-correlation claim that the central planning was the cause for the rapid economic growth. Lastly, I think I need to study more about the ins and outs of the Nakasone free-market reforms. Reforms under the label of "market-friendly" have often really been just crony capitalistic in their nature, but I have to look into this before making any claims...

[@nicobaby6218]

I think hes refering to the fact that under the control of the finance minister, central banks set a nominal gdp target, to achieve their target the bank created new money. They able to avoid inflation because they carefully invested In productive industry visa a vi finance. To put it in free market terms more supply to meet the demand, therefore the price didnt get bid up (inflate). Literally no economic super power got strong through unfettered capitalism.

[@yusufian49]

Can you post some resources about where the tabels and informations came from? I'd like to take deeper look.

[@economicsinjapan8076]

The sources used should be in the comment section. If I missed something let me know and I'll try to dig that info!

[@jackielee7506]

Very high quality

[@viliuskaralevicius1690]

Well done.Keep at it.

[@economicsinjapan8076]

Thanks for the comment!

[@TheWfindlay]

Great video mate, you should do other countries.

[@Idk-kg7ci]

This video helped a ton with my essay thank you so much man

[@jonboy82]

Amazinggggg...thankss for doing this video

[@ratidanelia2886]

Great video ! Keep up the excellent work ! if you don't mind me asking what programme did you use to put this all together ?

[@economicsinjapan8076]

Thanks! I use Premiere for editing

[@arkhie9883]

Kudos!

[@mithra2396]

Thank you!

[@sillyname6808]

Very informative

[@kaktusvskaffeebohne]

do you have any research papers/books where you found all this information? I would like to use them for a research paper

[@economicsinjapan8076]

Hi! Most of the sources I used are listed in the comment I pasted in this video. That being said, you could dig way deeper into the topics by finding the right books. Wish you good researching!

[@orca_radical]

Since it seems the US is going this way now too, can I ask, as an individual, what kind of businesses / industries still did okay during the lost decade? Also what was the real estate situation like after the crash? I imagine not all areas fell evenly. Did Japan experience a big urban-rural divide like America has? How did areas of Japan that were previously “lost” before the the Lost Decade do?

[@cristiannicolae6309]

There's another documentary called Princes of the Yen that you might want to watch. It describes the bubble and lost decade periods quite in detail.

[@frankspilotro6017]

Brave decision by Japan to help slow the spread of COVID. Let's all pledge to reward them for their selfless behavior in the coming year by buying Japanese products and planning trips to Tokyo and other Japanese destinations. #thankyoujapan#domoarigatojapan #domoarigatotokyo .

[@economicsinjapan8076]

Is that sarcasm I smell....

[@dejavucmail8176]

No one can really understand Japan's economic history without reading (there is also a documentary too).

[@lixibao]

Yes!!! Thank you for the recommendation. 🍻

[@saptak_maji]

I love japan very much from INDIA.

[@economicsinjapan8076]

It is a wonderful country!

[@ronnie2.803]

Thanks so much for the video. I live in Sapporo and I keep wondering about the ever widening inflation gap between Japan and USA. It seems inflation will climb to enormous heights in America’s future but for Japan it will continue to deflate. I checked that according to Statistica charts, Japan is at about 57% this year and forecasted to rise to .87% by 2026, do you think that Statistic prediction is wrong or is it right? What will it do to asset prices like commercial land, farmland, Akiya land and Precious metals, why do they sell only gold and not silver in Sapporo?

[@kettyanga551]

history repeats itself

[@economicsinjapan8076]

It tends to rhyme

[@samueltriad7103]

Economics in Japan indeed a haunting and ironic chime

[@FULANODETAL]

6:37 notice the angle of bow

[@loodwich]

I found this video in 2021... I was living in Japan, with a European scholarship, in 2007, I came back to Japan later around 2016... for me, the shock was the price of dairy products didn't rise in 10 years, is more, the price o Gyūdon was 100 yens lower that when I was a student.

[@economicsinjapan8076]

If the price (or the size or quality of the product) really didn't change that is quite remarkable. I'm not the expert on the topic but I have heard of some associations like JA that are responsible for keeping the agriculture product prices stable.

[@loodwich]

@@economicsinjapan8076 Public subvention to the farmer exist, because the government wants to produce enough food for themselves, without relay in the importations. For that reason in the residential places of the cities are rice fields in the middle of the city, in Minoh and Suita in Osaka I saw a lot of them. With the subvention, the Japanese rice could be sold at the same price as the imported ones. But the problem of Japan's economics is the reduction of the population, in 1980 the population was ~150 million, now is 126 million, and the worst projection is that will be ~80 million by 2050. But only 2% of the population are foreigners, they don't accept gaikokujin (Korea have 4%)... so at this moment Japan have a deflaction problem, when I went to Japan the Mokanbusho scholarship was 185.000¥/month (2006) and now (when my students are applyng for it, 2022) is 145.000¥/month.

[@economicsinjapan8076]

@@loodwich Thanks for the insightful comment!

[@sholjas13]

Thank you. A very interesting video. The topic is truly fascinating. Quantitive Easing is such a risk. Excessive money printing has the effect of giving the currency such a low value that spending it is almost the equivalent of free purchases. The consumers may enjoy it at first yet the businesses struggle when they try banking the sales & spending the profits. They become weightless, no value. This seems to have already happened as in your video of circa 1950s-60s. Money went into the banks and eventually left the banks when it was valued much lower. It seems from understanding the history, that Japan maybe was given the wrong kind of advice originally, then left struggling from the effects. Speculators who were purchasing landmark US property spent well yet almost certainly lost half the value in the resale. That sounds like a scam of a Buyers market, getting other Investors to purchase at high prices then sell the same property at 50% lower prices when struggling from bankruptcy as the currency had barely any weight behind it as value. The scam hit them then it hit them again, and all this after Japan started achieving higher financial achievements than America who had struggled from their manufactory industry acting on bad advice and giving consumers credit that they were unable to substantiate when the environment affected their livelihoods.

[@RobertK1993]

The lost score and the reason my favourite Japanese electronics brand Sony

[@guilhermeteixeira7095]

12:10 How did you make that animation ?

[@economicsinjapan8076]

Vector layers in after effects and then just key frame positions for each (also had to adjust some anchor points).

[@guilhermeteixeira7095]

@@economicsinjapan8076 Nice ! Thanks for answering me 👍

[@descentdoctor8214]

This Japanese video is not blurred, Thanks God

[@economicsinjapan8076]

I see what you did there...

[@seraphimhito]

Nice, but short. It's better to have more dates and names. Also international context is almost absent...

[@economicsinjapan8076]

Thanks for the feedback! I'll try to have more of that kind of background information in the future videos

[@udayrathod3786]

Thanks for making awesome analysis. Please make one on India.

[@economicsinjapan8076]

I would be interested in studying the matter!

[@udayrathod3786]

@@economicsinjapan8076 if you need any help, feel free to hit me up.

[@udayrathod3786]

@@economicsinjapan8076 will provide you all the data and insight if you want

[@fabiovilla5912]

Congratulations for this documentary!!

[@economicsinjapan8076]

Thanks for watching!

[@danniemoore97]

Hey this is happening in Canada right now.

[@economicsinjapan8076]

The money printing part of it?

[@bearbrandmarket4866]

I've been to Japan from 2014 to 2020. No salary increase during my time over there.

[@economicsinjapan8076]

Same for others living here I would think..

[@RobertK1993]

Your video explains why Sony the greatest of all Japanese electronics companies declined now has rebounded since 2012

[@wayneellis7297]

I'm desperate to learn more about the Japanese economy because I believe their twenty years ahead of the US in oligarchic development.

[@economicsinjapan8076]

Interesting point. What makes you think that?

[@wayneellis7297]

@@economicsinjapan8076 In America we have a declining birthrate in native inhabitants, as well as a contraction in productivity. Problems Japan has been fighting for a while now. The conservative man-o-sphere argument is that female empowerment and the decline of Christian values are to blame. But Japan doesn't have a history of "protestant values" and is still what I would call "culturally conservative". So that can't be the answer. So what's the variable that strings it all together? Currency manipulation? Pornography? Plastic derivatives?

[@economicsinjapan8076]

@@wayneellis7297 Yes, it seems that all developed countries are experiencing population loss (some countries are somewhat balancing the issue with immigration). When you have a smaller number of hands it would make sense that the gross productivity would decrease too. Of course we have had a huge IT-boom which along with new technologies have somewhat helped to combat this decrease in gross productivity. For what is the reason to this population decline is very hard to pinpoint. Currency manipulation might contribute in the way that it helps saddle young households with debt, which leads to hesitation in starting a family. Pornography, I'm not so sure but it might have some kind of contribution in certain cases. Plastic derivatives could also have some effect in male fertility which have apparently plummeted in the last decades. You mentioned that Japan is still considered to be culturally conserved which is largely true, but also true is the fact that the number of households where both man and woman work have rapidly increased in the last years. I don't think that it's easy for a man to sustain a family with his salary alone anymore. But then again this phenomenon is the same in other developed countries as well.

[@mcRydes]

Excellent overview. I’d love to hear more about Meiji era economics too!

[@IvanVesely920]

Would you please do the same vid for China? For us Westerners?

[@economicsinjapan8076]

This would interesting! However, I would need to do a lot more research as I'm not very familiar with the details in case of China.

[@IvanVesely920]

@@economicsinjapan8076 sir, its admirable that you even consider it! Have a nice day.

[@yurigansmith]

Oh how I love supermarket brawls over toilet paper.

[@mrmatt1331]

My beverage of choice was a lime l’croi

[@martinhall932]

Japanese government should provide incentives for couples to have 2 kids per household, and incentives to live in rural areas. This would create a more diversified society and increase domestic demand.

[@economicsinjapan8076]

Don't know if the execution of those policies would go smoothly. The government is already doing some kind of assistance for child families (I know because I have to pay part of this subsidy every month : ) )

Became rich after world war 2 because of the Sony Walkman, NES, Toyota Corolla and the Kawasaki Ninja.

[@economicsinjapan8076]

Yeah, those were some of the symbols of the rapid economic growth period. Also, have you seen the price for the latest Walkman models? They may have made Japan rich, but nowadays you gotta be rich to buy those.

[@ZaWyvern]

It seems the whole money printing strategy didn't take into account a complete shut down of an economy, without the collapse of the government that is. It's both interesting and stupid. The world economy runs on a system that has no inheritability outside itself. It is simply a series of empty promises designed to pull the people forward. Perhaps it is the only way to motivate a population to do more than is necessary to provide?

[@economicsinjapan8076]

I don't think that there is even a single case in history where money printing and kicking the can solved any problems (and boy have we tried). The social security and pensions in Japan (and the rest of the world) operate as a legal ponzi-scheme. It was calibrated to work under the expansive high growth environment, which is one of the reasons the BoJ has to now prop it up constantly.

[@lisalph8922]

I don't think a central bank expands the money supply in order to stimulate local consumer demand. An expanding money supply lowers the value of money and the cost of capital. This is good for debtors as they can repay loans with cheaper money than when they took out the loan. This also helps exporters as their goods become cheaper in foreign countries. This is not good for importers and consumers of import goods as it makes those goods more expensive compared to locally produced goods. And every time the money supply is expanded, the value of all existing currency is devalued, lowering the purchasing power of consumers. So this is really not good for local consumers. This price inflation may not immediately be apparent if people are in a savings mindset as the velocity of money is low. This often happens after a period of war or other traumatic situation. But once people start feeling safe to spend again, they will see prices rise.

[@economicsinjapan8076]

Can't believe how I missed reading your comment. I think you are spot on regarding the interaction of the money supply and inflation (of course we can also debate on the issue of how the CPI is currently calculated but I wont go there now...). This might be the reason why so many people (many smart ones too) believe that we can keep getting away with more money printing and stimulus. People should understand that it is not a linear pattern but an exponential one, where the tipping point can only be known in retrospect.

[@juancassinerio1580]

Today japan economy is due to abenomics. A mix of increasing proteccionism, regulation to new companies.

[@economicsinjapan8076]

Yeah, I wonder if one could still call it capitalism...

[@juancassinerio1580]

@@economicsinjapan8076 there arent capitalist or socialist countries, all of them are a mixture o both, except maybe unites arab emirates, they are really a private country, a company country

[@jamesmorton7881]

SOUND FAMILAR ? Neoliberalism. It’s worked perfectly according to the trajectory on which it aims: to steer society on behalf of the One Percent. Michael: Academic economics has been turned into a cover story to defend a status quo steered by the wealthiest One Percent, mainly by the banking and financial sector instead of by governments and their regulatory or fiscal agencies. The essence of neoliberal economics is to depict a parallel universe that seems plausible, and seems that it would work very nicely if the world were really that way. But it doesn’t describe the real world. BURN THE FIRE SECTOR. . . . . . . . . UNEARNED INCOME IS COUNTER PRODUCTIVE THEY GET TO STEAL IT, YOU CAN TO. STEAL IT BACK. In practice, the function of neoliberal economics is to distract attention away from how the economy really works - why it’s polarizing, and why people are having to work harder and harder despite the fact that productivity is going up. c¯·.¸¸.·´¯·.¸>.·´¯·.´¯·.¸¸.·´¯·.¸>c¯·.¸¸.·´¯·.¸>.·´¯·.´¯·.¸¸.·´¯·.¸>c¯·.¸¸.·´¯·.¸>.·´¯·.´¯·.¸¸.·´¯·.¸> - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - The U.S. is Saving the Financial Sector, not the Economy - Michael Hudson Before juxtaposing the U.S. and alternative responses to the corona virus’s economic effects, I would like to step back in time to show how the pandemic has revealed a deep underlying problem. We are seeing the consequences of Western societies painting themselves into a debt corner by their creditor-oriented philosophy of law. Neoliberal anti-government (or more accurately, anti-democratic) ideology has centralized social planning and state power in “the market,” meaning specifically the financial market on Wall Street and in other financial centers. At issue is who will lose when employment and business activity are disrupted. Will it be creditors and landlords at the top of the economic scale, or debtors and renters at the bottom? This age-old confrontation over how to deal with the unpaid rents, mortgages and other debt service is at the heart of today’s virus pandemic as large and small businesses, farms, restaurants and neighborhood stores have fallen into arrears, leaving businesses and households - along with their employees who have no wage income - to pay these carrying charges that accrue each month. This is an age-old problem. It was solved in the ancient Near East simply by annulling these debt and rent charges. But the West, shaped as it still is by the legacy of the Roman Empire, ( IT COLLAPSED and the DARK AGES began) has left itself prone to the massive unemployment, business closedowns and resulting arrears for these basic costs of living and doing business. The People in Charge (PIC) do not talk much about this aspect of capitalism, not in the text books. Western civilization distinguishes itself from its Near Eastern predecessors in the way it has responded to “acts of God” that disrupt the means of support and leave debts in their wake. The United States has taken the lead in rejecting the path by which China, and even social democratic European nations have prevented the corona virus from causing widespread insolvency and polarizing their economies. The U.S. corona virus lockdown is turning rent and debt arrears into an opportunity to impoverish the indebted economy and transfer mortgaged property and its income to creditors. There is no inherent material need for this fate to occur. But it seems so natural and even inevitable that, as Margaret Thatcher would say, There Is No Alternative. But of course there is, and always has been. However, resilience in the face of economic disruption always has required a central authority to override “market forces” to restore economic balance from “above.”

[@bellajbadr]

Age of empire bg sounds ;)

[@economicsinjapan8076]

Really? Which part? : D

[@bellajbadr]

@@economicsinjapan8076it starts after 19.19 min

[@dsvduong]

Princes of the yen

[@economicsinjapan8076]

Thats also an interesting one!

[@eliasarches2575]

Is the japense bubble and the subsequent lost decade too different from what’s happening/will happen in the west right now? Artificially low interest rates and money being pumped into the economy. What’s going on right now is making the Japanese bubble seems like a tiny blip.

[@economicsinjapan8076]

Very good point! I have also heard about the term "Japanification" of the western economies, and even that is said to be one of the "best" outcomes. Personally don't know if its better to go out with a bang or a whimper.

[@ACT1O1]

"The Princes of the yen". Go check that out

[@economicsinjapan8076]

Yeah, it's an interesting document... Although I don't agree on the point that the solution for the languishing economy is BoJ easing (as we have now witnessed).

[@김지훈-r1v]

en.m.wikipedia.org/wiki/List_of_countries_by_average_wage World average wage ranking

[@FloridaSkaters]

anyone else just watching to get ready as an american for what our central banks next steps will be

[@economicsinjapan8076]

Do you think you will "go Japanese" ?

[@jeffstrong4580]

China has been borrowing Japanese Yen at 0% and exchanged to USD for investment abroad for Belt and road initiative which caused lost of interest income in hundreds of billions for the US federal reserve. Japan has currency swap deal with the US and their debt ratio is at 260% of their GDP thus Japanese federal bank kept their 10 years bonds at minus 0.1 to 0% or else they can't pay their debt. Washington must stop currency swap deal with Japan to stop China and Japan must compensate Washington in hundreds of billions of interests income lost.

[@toyokawashigako1643]

japans econemy has been booming the last ten years and even more now then ever

[@Herbwise]

Newly valued asset. Toilet paper. Pun intended?

[@economicsinjapan8076]

Get out :D

[@anonymouslegend4411]

Any Keio PEARL students on here studying for intro?

[@skepticdude0017]

Why did you start from post war? Japan's economy was quite advanced before the war, and in large part developed off the back of slave labour in Korea, China, and Manchuria. It was from this foundation that Japan was able to rise up in the post-war period.

[@yeonggyuheo3349]

Mimic fast. That is the secret. That's all.

[@kizhissery]

QE and near zero interest rate and stock run guess I saw somewhere Donald?

[@khanfauji7]

can I just LOL to MMT - WTF!

[@economicsinjapan8076]

I hope that the politicians would too...

[@ciaoitalo]

Is China the next Japan?

[@economicsinjapan8076]

In some ways I think very possible... Many have pointed out their over-heated real-estate market (ghost towns being built, people hoarding apartments as "sure bets" etc), which has some of the same elements as Japan had in the 80s. I guess we'll have to wait and see what happens

[@samueltriad7103]

Lmaoo you mean the US next Japan? 😂😂😂

[@gabbar51ngh]

@@samueltriad7103 pretty sure it's China which is going to be bubble

[@toyokawashigako1643]

japan is not the biggest debt nation..... abnd more rich then the person that did this video

[@snehajs7943]

Very informative.