In discussions about the significant differences that we have observed over the last 30 odd years between the conduct of economic policy in Japan and elsewhere, the usual response from mainstream economists, when challenged to explain the outcomes in the former nation, is that it is ‘cultural’ and cannot be applied elsewhere. I always found that rather compromising because mainstream economics attempts to be a one-size-fits-all approach based on universal principles of maximising human behaviour. So, by admitting ‘cultural’ aspects to the discussion, this is tantamount to admitting that the ‘market-based’ micro founded approach to macroeconomics is incapable of explaining situations. That is the first black mark against the veracity of mainstream theory. But when one prods further, it becomes clear that the term ‘culture’ is fairly vacuous and blurred in this defense of the mainstream framework. I respond by pointing out that essentially the monetary system dynamics in Japan are identical to the way the system works elsewhere. The institutions might have subtle variations but essentially the operations are so similar that the ‘culture’ bailout doesn’t help resurrect the appalling lack of predictive accuracy when it comes to examining the macroeconomics of Japan. Cultural aspects, however, are crucial to understanding the differences. The trick is understanding how these monetary and fiscal institutions are managed. This is where the cultural aspects impact. And, while I have learned a lot about Japanese cultural nuances, some of the more important ‘cultural’ drivers are transportable to any nation – if only we cared enough and valued people in the same way....A key aspect of culture is the value system of the culture. Cultures transmit value systems that provide the moral structure of ideologies.
Bill Mitchell – billy blog
The monetary institutions are the same – but culture dictates the choices we make
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
The monetary institutions are the same – but culture dictates the choices we make
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
22 comments:
When moral suasion doesn't work, the Japanese government resorts to the yakuza.
The yakuza emerged from misfit pedlars and gamblers in the Edo period (between 1603 and 1868) that formed into criminal gangs. During Japan’s turbo-charged modernisation, they reached deep into the economy; after the second world war they grew powerful in black markets. Their might peaked in the 1960s with an estimated membership of 184,000. At their zenith, they had strong links to conservative politicians and were used by the Liberal Democratic Party (LDP), Japan’s post-war political behemoth, to break up unions and left-wing demonstrations. Such ties may not have completely faded.
Why the yakuza are not illegal
https://www.japantimes.co.jp/news/2021/04/07/national/fraud-japan-post-nagasaki/
This is cultural!
Japan has been a US soft power success… as has South Korea….
Economic outcomes have always been secondary to national security interests… since WW2…
All international economic development has been a result of US/UK (WW2 victor) soft power initiatives…
It’s worked in Japan, South Korea, Europe, much of former Soviet bloc, Taiwan…
Has not worked in Russia (obviously) so back to Cold War there …. maybe not China but not conclusive yet…
5% unemployment not generally looked upon as problematic (still have 95% working)…
Most people are satisfied with a 95%…
Federal Reserve Act says “maximum employment “ so people could look at 95% and think that is the “maximum”… Humphrey Hawkins Act says “full employment “ so that implies 100% (full) but that law is ignored by the Art Degree morons comprising the high places in economic policy making… ie textbook Art degree paradox…
US soft power success
Japan's fertility rate: 1.3%
South Korea's fertility rate: 0.84
Taiwan's fertility rate: 0.98
Notice a pattern? Align yourself with the US, adopt their cultural values, then go extinct.
Whites in the US are going extinct too.
This website has a countdown timer where white people can watch themselves going extinct in real time. It currently says that the US will become majority non-white in about 21 years. It even has a "YOU ARE HERE" label. The countdown timer and chart are on the top right side of the page.
The Daily Stormer
More info here:
The Daily Stormer
The Daily Stormer is an American far-right, neo-Nazi, white supremacist, misogynist, Islamophobic, antisemitic, and Holocaust denial commentary and message board website that advocates for a second genocide of Jews. It is part of the alt-right movement. Its editor, Andrew Anglin, founded the outlet on July 4, 2013, as a faster-paced replacement for his previous website Total Fascism, which had focused on his own long-form essays on fascism, race, and antisemitic conspiracy theories. In contrast, The Daily Stormer relies heavily on quoted material with exaggerated headlines.
Racist…
https://www.themoscowtimes.com/2022/07/29/russias-population-decline-hits-record-rate-a78437
https://www.pewresearch.org/fact-tank/2022/12/05/key-facts-about-chinas-declining-population/
It’s a global trend…, Automation and productivity increases are resulting in less need for children…
US soft power is about avoiding WW3…. Japan and Europe were former enemies of war…
That’s because they sell their children…,
Canada has bought into the need to grow its economy, hence our relatively high immigration levels.
The 'free market' solution would be drop all border restrictions and allow people to migrate where they please.
For the birthrate to increase in developed countries, it is theorized that a higher standard of living is required. Star Trek level of abundance, perhaps.
Total fertility rate in the United States in 2020, by ethnicity of mother
The US demographic makeup is changing. (Ignore the Hawaiians in the chart. There aren't that many of them to matter.)
The relatively higher rate for Hispanics coupled with the increase in immigration means that the US is becoming a nation of Hispanics.
U.S. Hispanic population continued its geographic spread in the 2010s
Also, this:
In Chicago and elsewhere, Latinos converting to Islam
Why Latinos Are Converting to Islam
They see Islam as a place of refuge as their own religion/denomination drifts towards woke ideology.
A lot of that takes place in prison. This is similar to what's happening in France.
Although there are inconsistent exact numbers of conversions, many scholars and chaplains cite Islam as the fastest growing religion among the incarcerated population. It is estimated that 15% of the U.S. prison population is Muslim, mostly composed of African Americans but followed by Latinos. In 1991 an estimated 35,000 people in prison converted to Islam every year, and more recent estimates range from 30,000–40,000 per year. With the growth of the imprisoned population with mass incarceration and the growth of Islam in the U.S., these numbers are bound to be under-representing the Muslim convert population in prison.
Islam allows those convicted of crimes to recover from the stigma of being a "criminal". By following the teachings of Islam, people who are convicted of a crime have a moral framework for rehabilitation and recovery as well as providing prisoners with a more positive way to cope with the harsh environment in prison, which in turn lessens their likelihood to have to turn to violence and aggression.
source: Hispanic and Latino American Muslims
You guys had better hope that all these Muslims are nice like me and don't start sporting beards and talking about jihad...
Oh no!.. the Moors are coming...
When Catholicism includes patron saints for drug dealers and assassins, Islam may not be any worse.
https://en.wikipedia.org/wiki/Santa_Muerte
Ahmed I thought you were Hindu or something?
I am a Sufi. Sufism is the mystical branch of Islam.
I have ten years in the study of comparative religion, which is why you see me quoting other scriptures. I find things in other religions that confirm what is in mine.
e.g.
Wherever you may be, death will overcome you—even if you were in fortified towers.” When something good befalls them, they say, “This is from Allah,” but when something evil befalls them, they say, “This is from you.” Say, ˹O Prophet,˺ “Both have been destined by Allah.” So what is the matter with these people? They can hardly comprehend anything. —Qur'an 4:78
Okay, this says that evil, like good, is from God. Today, I saw this:
I form the light, and create darkness: I make peace, and create evil: I the Lord do all these things. —Isaiah 45:7 (KJV)
source: Isaiah 45:7 BibleGateway
Did you notice that this is the occasionalist view, quoted from two different scriptures?
Incidentally, this showed up in a Reddit post. See here:
MurderedByWords
Culture wars...
'I don't care who you are!': Man is arrested for punching a NYPD officer after confronting protesters opposed to Drag Queen Story Hour for kids as young as THREE at NYC's iconic Public Library
A Twitter link to the video in the above story:
NJEG Media
Most people underestimate the power of the exponential. This is from a Twitter post:
Terrifying fact: if current fertility rates hold, in 300 years there will only be 300 people left in Japan.
It's approximately right based on my rough calculations with assumptions. He follows it up with this tweet:
You can't do simply exponential decay. You have to start with the current demographic distribution and then run exponential decay on each cohort that is still of child-bearing potential (set a bit arbitrarily but I set mine at <40).
source: Tweet by Cornelius X. Carroll
In 300 years, Japan may be majorly Ukrainian.
Obsession with fertility rates and demographics is silly. These "problems" are self-rectifying.
Humanity should devote more thought to predicaments.
Culture wars...
After a sufficient number of perverts have emerged from the shadows, then you'll see a war. Or more accurately, a reset.
Demography is destiny.
For humans and other vermin, adaptation to a wide range of habitats is destiny.
Remaining in an ecological niche is an alternative strategy. e.g. the coelacanth
You have to think in geological timescales. Dragonflies and coelacanths are enduring; humanity is a blip.
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