Country: General Statistics

Other Country Profiles

Japan

Failure?

Two decades of economic stagnation or sluggish growth and declining prices. Not spending enough to stimulate the economy.

Or Success?

Japan as failure reflects the view of mindless pro-growth economists that fails to compare Japan to other nations. Japan, in fact, is successful economically, socially, and environmentally:

Economy:

  • Sustainable steady state or slow growth economy high standard of living;
  • 5 percent or less unemployment, far less than the US
  • Low income inequality; broadly shared prosperity
  • Needs are being met; trickle down has already trickled down
  • Not living off credit
  • Manageable speculative bubbles and government debt
  • Strong industrial base, strong exports; positive balance of trade and payments
  • One of the world's leading exporters

Society:

  • Health care for all of its people, efficient health care
  • Highest life expectancy
  • Low rates of infant mortality
  • At the top in literacy
  • Low rates of crime, incarceration, homicides, mental illness and drug abuse

Environment:

  • Low rate of carbon emissions, doing its part to reduce global warming.

Abstracted from Steve Hill's Reconsidering Japan and reconsidering Paul Krugman, truth-out.org, December 11th, 2010.