There's been some discussion on this blog about how much responsibility the LDP bears for Japan's current economic woes. Has Japan been helplessly swept up in a crisis of America's making? Or did LDP policies leave Japan more vulnerable than necessary to the storms sweeping the global economy?The answer, as I see it, is "both." …
Tag: Japanese economy
Work equals force times distance (Noah Smith)
I am waiting in the departure lounge at JFK in New York for my flight to Tokyo. In the mean time, here is another contribution from Noah Smith. - TSHTaro Aso, speaking before a parliamentary committee, recently said that "Japan's belief in hard work contrasted with that of the Judeo-Christian tradition," and that world religions …
Continue reading Work equals force times distance (Noah Smith)
"It’s the institutions" (Noah Smith)
Hi! First, of course, to introduce myself. My name is Noah Smith, and I'm an economics PhD student at the University of Michigan in Ann Arbor (specialty: urban economics and macroeconomics). Between college and graduate school I lived in Osaka, Japan for 2.5 years, from 2003-2006, where I worked as an editor and also a …
Mr. Aso’s unbearable optimism
In his book Totetsumonai Nihon (2007), Aso Taro outlined an approach to governing Japan that amounts to a pep talk for the dispirited Japanese people.Time and time again, Mr. Aso suggests that the key to saving Japan is for its people to rediscover and celebrate their "latent power," to look cheerfully to the future, and …
The lessons of 2008
I have already written one retrospective essay on 2008 in Japanese politics, but I wanted to look back in more detail at this year's events and crystallize the year into a handful of lessons.As 2008 enters its final days, what have we learned about the state of the Japanese political system?First, and most importantly, the …
Endgame
As 2008 enters its final week, the LDP and Aso Taro, its beleaguered head, are being written off as doomed in the year to come.No one, it seems, is willing to offer an explanation for how the LDP can save itself in a general election. The LDP may yet win the general election, but its …
Slouching towards irrelevance?
Prime Minister Aso Taro, faced with dismal poll numbers, a potential rebellion within the LDP, and an economy galloping into recession, sought to stem the tide against him by announcing a second stimulus package at a press conference on Friday.The government's purpose is to ease the insecurities of the Japanese people, but also to make …
The DPJ gambles
Prime Minister Aso Taro returned from the G20 meeting in Washington and immediately met with Ozawa Ichiro to discuss the conclusion of the extraordinary session of the Diet.The LDP and the DPJ are set for another showdown over the MSDF refueling mission in the Indian Ocean, as the DPJ has announced that it will boycott …
Two crises
In the comments section of this recent post, I have been accused of overstating Japanese decline and understating the US decline.I have actually said very little about the economic crisis in the US — and what I have said about Japan is not particularly new. For the most part I have simply updated an argument …
Japan sinks?
Aso Taro has arrived in Washington for the G20 summit on the global economic crisis.He leaves behind a country tottering on the brink of ruin. The OECD has announced that, like the reappearance of cancer after remission, Japan may once again experience deflation in 2009. Consumer confidence is at a record low. The question on …
Tobias S. Harris 