Tuesday, September 25, 2007

The blind leading the Japanese

Japanese Deregulation: Big Corporations are Destroying People's Lives - Uchihashi Katsuto interviewed by Okamoto Atsushi

"[Uchihashi Katsuto, born in 1932, is a prominent economic, political and social commentator and the author of seventy books including his eight volume collected works. He was interviewed by Okamoto Atsushi, the editor of Sekai (World). ..."

The ideas that "caused Latin America to go completely bankrupt" are being implemented in Japan. When the US business community was getting its collective panties in a bunch in the 80s at the thought of Japan overtaking the US economically, it ironically would probably have scared them further to think that Japanese economists were being trained in American economic ideas. Goes to show that fear can be misplaced at times.
Looks like Japan is ditching the state-led economic model that made it rich, and moving its way towards the United Statesian, Friedmanite model of extreme wealth disparities, insecure workforces, underfunded public services and a slow choking of demand in the domestic market as incomes for the majority stagnate or fall. What a path to recovery it is likely to be!

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