Japan’s lost generation is still jobless and living with their parents
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Re: Japan’s lost generation is still jobless and living with their parents
#2The things that stand out to me about Japan:
* 3rd largest economy.
* 11th largest population (top 10 until recently, they basically tie with Mexico).
* If you look at a table of countries by area, they are there. Even in the top half, thanks to places like Tuvalu.
I think there is a very strong on-the-face-of-it argument that they just have too many people and not enough for them to do, economically speaking. If they could drop their population and keep the economy about the same (and if they have so many dead-end jobs and so few opportunities, they could) then they would be both a wealthy country and absurdly wealthy on a personal level.
Re: Japan’s lost generation is still jobless and living with their parents
#3The things that stand out to me about Japan: * 3rd largest economy. * 11th largest population (top 10 until recently, they basically tie with Mexico). * If you look at a table of countries by area, they are there. Even in the top half, thanks to places like Tuvalu. I think there is a very strong on-the-face-of-it argument that they just have too many people and not enough for them to do, economically speaking. If the…
That's not how economy works.
There is no such thing in general as "too many people for the economy".
"The economy" is the sum of goods and services produced and consumed. Everyone who lives consumes, and could easily consume more. The economy is generally limited by the ability to produce, and is generally limited by the number of working-age people to do the producing. Unemployment can be result of production being bottlenecked by something else:
* raw materials - but Japan never had an abundance of those even when their economy looked like it would dominate the world in the 80s
* education - but the people the article talks about have university degrees
* capital - again not something Japan lacks
Companies would rather hire a new 22 year old graduate at full pay than give a 30 year old with an even better degree a chance at a 30% discount, not out of concerns over the 30 year old's skills being outdated but simply because hiring new graduates is what you do. They'll hire non-graduates only on temporary contracts when short of workers, but never in a million years consider promoting them and converting them to regular employees, no matter how good they are.
Re: Japan’s lost generation is still jobless and living with their parents
#4Japan has the problems now we, Western society will be facing in 20 years. This has been true since the 80s, so it's be nice to learn from it, and not follow it.
Re: Japan’s lost generation is still jobless and living with their parents
#5The things that stand out to me about Japan: * 3rd largest economy. * 11th largest population (top 10 until recently, they basically tie with Mexico). * If you look at a table of countries by area, they are there. Even in the top half, thanks to places like Tuvalu. I think there is a very strong on-the-face-of-it argument that they just have too many people and not enough for them to do, economically speaking. If the…
> I think there is a very strong on-the-face-of-it argument that they just have too many people and not enough for them to do, economically speaking.
Japan's greatest problem is that they have a geriatric population, coupled with low fertility rates, and an extremely unhealthy work ethic/culture. But, as usual with demographic stuff, the nasty effects won't really appear visible for decades - and by then it may very well be too late.
Re: Japan’s lost generation is still jobless and living with their parents
#6The things that stand out to me about Japan: * 3rd largest economy. * 11th largest population (top 10 until recently, they basically tie with Mexico). * If you look at a table of countries by area, they are there. Even in the top half, thanks to places like Tuvalu. I think there is a very strong on-the-face-of-it argument that they just have too many people and not enough for them to do, economically speaking. If the…
what a ridiculous assumption that there could be too many people and not enough for them to do.
in the last decade japanees workforce grew despite overall population decline/getting old. mainly due to women participation increase. If there was not enough to do it wouldn't be possible.
almost all on-the-face-of-it arguments are oversimplification of largely complex issues. Sadly most(all of them?) government interventions are done by politicians on the basis of such arguments...
Re: Japan’s lost generation is still jobless and living with their parents
#7Japan has the problems now we, Western society will be facing in 20 years. This has been true since the 80s, so it's be nice to learn from it, and not follow it.
> This has been true since the 80s, so it's be nice to learn from it, and not follow it.
Unfortunately, history has a tendency to repeat itself. And, even when it's recent history, people are unlike to enact drastic change. Just look at the climate change "debate" :'(
Re: Japan’s lost generation is still jobless and living with their parents
#8Japan has the problems now we, Western society will be facing in 20 years. This has been true since the 80s, so it's be nice to learn from it, and not follow it.
I agree with you but I think we are already starting to face the same problems now.
Re: Japan’s lost generation is still jobless and living with their parents
#9The things that stand out to me about Japan: * 3rd largest economy. * 11th largest population (top 10 until recently, they basically tie with Mexico). * If you look at a table of countries by area, they are there. Even in the top half, thanks to places like Tuvalu. I think there is a very strong on-the-face-of-it argument that they just have too many people and not enough for them to do, economically speaking. If the…
People here are disagreeing with you, but I actually think you're exactly right about most modern economies: too many people and too few jobs leads to all sorts of social issues from wealth inequality to excessive hours to crazy house prices.
Re: Japan’s lost generation is still jobless and living with their parents
#10Japan has the problems now we, Western society will be facing in 20 years. This has been true since the 80s, so it's be nice to learn from it, and not follow it.
In my opinion, the end of cheap fossil fuels necessitates we'll look like either Japan or Africa, and I know which of those I'd prefer. Shrinking GDP or shrinking GDP per person may seem like a difficult call for a country's leader, but as a citizen it's a rather obvious choice.