1. Regarding the Japanese miracle, Paul Johnson summed up several reasons: the various development factors are perfectly combined in a suitable time period, which is a basis for us to examine modern Japan.
By 1953, Japan had completed post-war reconstruction, only four years behind Germany. Then it began a 20-year development period with an average annual growth rate of 9.7%. This is almost twice the speed of any important industrial country in the post-war period. What is truly comparable to this is the brilliant growth of the US economy 40 years before 1929. This “miracle” was built on the basis of cars. During the highly intense period from 1966 to 1972, passenger car production grew at an alarming rate of nearly 29% per year, and Japanese car ownership increased by one-third every year.
There is nothing magic about this miracle. It is an easy-to-understand example of Adam Smith’s economics, but it touches a little Keynesianism.
A high proportion of fixed capital constitutes little investment in non-productive.
2. In the process of rapid development, Japan has also experienced a period of special consideration for itself. We are familiar with such greatness as Tokyo Real Estate bought the entire United States.
The Tokyo Tower was built, “Michiko Hot” (she is a crown prince, tennis player) mad in Japan, Fuji Heavy Industries’ “Subaru 360” Beetle family car, Honda’s “super cub” motorcycle, Nissin food chicken flavor Ramen and so on have been released one after another, and people have truly seen the arrival of an era of mass production and mass consumption.
3. However, higher incomes, higher growth… are not endless.
The era in which everyone earns an annual income of 7 million, 8 million or even 10 million yen has become a distant past, at least a few years ago. For example, if you earn 3 million yen this year, you can live your own wonderful life. So there are more and more people holding this idea.
Of course, if someone wants to pursue an annual income of 30 million yen, thinking that it is the most suitable life for them, and making high-risk investments, and profiting billions, it is not my business. Others like to constantly improve themselves. The class is better for him. I will never comment, as long as my own minimum living is guaranteed. This is the psychological situation of this group. I feel that my current life is not wrong, and also Don’t want to improve with others.
This transformation has actually begun to subtle since the 1980s, but it was still in the stage of high-consumption society, and the new social model that replaced the “1955 system” has not yet been clearly revealed. Now, with the dramatic changes in the social structure such as the economic downturn, aging, and declining population, the specific changes in all aspects of family, education, and employment have become clearer, and the new social system model has become clearer. The land is presented to the people.
4 The overall wealth of society still maintains the status of economically developed countries, but the imbalance of intergenerational distribution has become a prominent problem.
In 2015, households aged 50-59 saved 17.51 million yen and liabilities were 6.45 million yen. 60-69 years old, 24.02 million yen, a debt of 1.96 million yuan. There are 23.89 million over 70 years old and the debt is 830,000.
5 The concentration of wealth in the hands of the elderly means that the consumption power of the entire society is weakening.
The reason why Americans are 60 years old and still happy to enter and exit the single bar is that both men and women have strong desires and want to enjoy life again.
However, what are the 60-year-old Japanese doing? The orchids are raised on the narrow balcony of the apartment, and the dogs that are smaller than the cats are walking around the house. These simple interests can satisfy Japanese nationals. For such a group of low-destination people, it is hard to imagine that they will wear good-looking clothes, make delicate makeup, and go to a single bar.
6At this time, the demographic composition is also not conducive to the continued creation of wealth.
Japan’s period of heavy labor was a period of high economic growth in the 1970s, and it has been more than 40 years since now. Indeed, at that time, as young people who graduated from local high schools flocked to major cities to seek employment, as long as they were factories in the metropolitan area, the labor force was sufficient. However, in the 1970s, the scene of local junior high school graduates flocking to Tokyo for employment gradually became past tense. In order to recruit workers, the manufacturing industry located around the city began to migrate to rural areas such as the Northeast.
Due to the serious phenomenon of the declining birthrate, coupled with the increase in university enrollment rate, there are very few junior high school graduates. Today’s college graduates are in a state of full employment, so no one wants to go to the factory.
7Japanese young people are reluctant to engage in manufacturing jobs in employment choices. Of course, from the perspective of the global division of labor, from the cost of creating wealth in each position, young Japanese workers are no longer competitive.