Lost in stagnation? Japan’s economic paradox

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for a stagnant economy the cities are spectacularly human-scale and affordable places to live vs cities in the west. Rents or mortgages are not 60% of income, far from it. Public transport is amazing. Food and drink and entertainment options are numerous and so on.

nyc

I can see how some people claim the impact of price expectations on the economy, but I doubt deflation is anything to do with the cause of economic stagnation in Japan. Hence some minor inflation is not going to change anything.

The root cause is much deeper. Their labor markets lack dynamisms, which prevents people from switching employers, and most employers have completely outdated work cultures and promotions. seniority-based promotions and gender inequality unfairly treat the young and women. Lots of workers are overworked and underpaid, and lots of talents go undeveloped. today’s economy needs workers who can continually study and adapt to new technologies as well as talents from overseas. many Japanese firms do not have capable leaders who can update corporate culture and strategies and are surrounded with too many of like-minded outdated executives.

loskotas