The deflationary Japanese economy is a spurious observation and a precarious political propaganda, which tacitly connects with the fanatic diagnosis urging an inflation-prompting macroeconomic policy. This book provides an overview of the prolonged stagnation of the current Japanese economy. It also examines the politico-economic implications concerning the precarious conversion of Japanese monetary policy and focuses on the vulnerability of the price-sustaining policy concerning the public debt. The book also analyzes and suggests against the acceleration of inflation under the current Japanese foreign exchange system and also suggests that the surge of foreign direct investment towards East Asia is the acute cause of Japanese economy stagnation. The book concludes that to rebuild the economic potential of the Japanese economy, education and fostering the youths are the keys. This book will definitely interest those who are keen to learn more about the relationship between Bank of Japan and the Japanese political parties.

This book reconsiders Keynes’s The General Theory of Employment, Interest and Money and establishes a new interpretation. In contrast to the existing models, this book finds that the stickiness in the nominal wage is not crucial for his theory. Moreover, the author has also succeeds in capturing the concept of liquidity in a rigorous mathematical model. In conjunction with the development of the concept of liquidity, the separation of the decision between savings and capital investment, which plays a key role in the principle of effective demand and denies Say’s law, is exactly and originally formulated. The theory thus developed is applicable to elucidating some serious political economic causes that entrap the long-stagnated Japanese economy. For example, an analytical explanation is provided about why disinflation/deflation incessantly progresses despite the exorbitant expansionary monetary policy (ijigen kin-yuu seisaku) by the Bank of Japan. This phenomenon is an unsolvable question from the quantity-theoretic approaches (e.g., monetarism and new Keynesianism) which, although they differ in assumptions concerning the length of adjustment periods, commonly assume that the price level sooner or later rises in proportion to the quantity of money. Owing much to Keynes, the author’s approach considers that the price level is mainly governed by its marginal prime cost which is equal to the nominal wage as a first approximation. As such, the drastically sagging wages during the past 10 years provoke serious disinflation/deflation. It should be noted that this discussion never depends on the quantity of money.

Speculative Bubbles and Monetary Policy works at the intersection of economic theory history. While the consistent and penetrating perspective of theory is necessary for interpreting economic history, existing macroeconomic theories are fragile an ineffective at narrating an economic history that covers a relatively long period. Such fragility comes from arbitrariness in deployed economic theory as well as structural changes within an economy. This book presents a Keynesian theory with a rigorous dynamic microeconomic foundation that entirely differs from new Keynesian theory and applies it to the Japanese economic history from the 1980s to 2010s. It considers two primary incidents in the country’s economic history: the bubble boom from the late 1980s to the early 1990s, and the country’s immersion in neoliberalism at the turn of the century.

The second edition of this comprehensive study of recent Japanese history now includes the author's expert assessment of the effects of the earthquake and tsunami, including the political and environmental consequences of the Fukushima reactor meltdown. Fully updated to include a detailed assessment of the aftermath of the March 2011 earthquake and tsunami Shows how the nuclear crisis at Fukushima was an accident waiting to happen Includes detailed discussion of Japan's energy policy, now in flux after the mishandling of the Fukushima crisis Analyzes Japan's 'Lost Decades', why jobs and families are less stable, environmental policies, immigration, the aging society, the US alliance, the imperial family, and the 'yakuza' criminal gangs Authoritative coverage of Japanese history over the last two decades, one of the country's most tumultuous periods

The present study analyzes the livelihood security system of contemporary Japan in international comparison from a historical and gender perspective. It posits ‘livelihood security systems’ rather than ‘welfare states’ or ‘welfare regimes’ as its object of analysis to enter the role of non-governmental institutions and of governmental policies reaching beyond income transfers into vision. Based on rich statistical materials, the evolution of Japan’s livelihood security system in recent decades is traced to reveal a rigid male breadwinner orientation increasingly out of step with social realities. The need for remedying the gender bias built into Japan’s social insurance schemes has been politically highlighted since the late 1990s, but legislative action has continued to be deferred. The author argues that at present the livelihood security system of Japan is not only dysfunctional, but actually functioning in reverse, in a sense of furthering social exclusion. The study concludes with suggestions for a possible reconstruction of Japan’s social security system, arguing for an increased role of the ‘third sector’ or ‘social economy’ in livelihood security and care provision. This book will appeal to scholars and students with an interest in social policy, welfare economics and gender studies, as well as Japanese politics and society.

Education is in a constant state of renewal internationally where it responds to a number of pressing social, political and cultural issues. Processes of globalization, a number of conflicts and acts of terror, economic and environmental crises have led to large waves of migration and asylum seekers arriving in countries with the hope of finding safer and more stable places to settle. This, in turn, has led to cultural and religious pluralism being a key characteristic of many societies with corresponding issues of belonging and identity. As well, for many people, there has been a shifting influence of and allegiance away from traditional religious frameworks with the emergence of new religious movements, both peaceful and violent, and a rise in popularity of spirituality and non-religious worldviews which provide alternate frameworks for living healthy and ethical lives. In order to prepare today’s student for tomorrow’s world, one which is confronted by a range of risks and crises and which is being shaped by rapidly changing technologies, educators and researchers are investigating new ways of equipping students to deal with these challenges and opportunities, including the nurturing of spiritual wellbeing. This book brings together the voices of many experienced educators to discuss ways to re-enchant education and re-enliven learning programs in response to these 21st century issues in an increasingly global and interconnected world. It examines a range of international contexts, including secular and religious educational settings, and provides an avenue for visionary voices that identify problems and offer solutions to help shape a more promising education system that will prepare children more constructively and beneficially to flourish in their future worlds.

This is a new analysis of recent changes in important Japanese institutions. It addresses the origin, development, and recent adaptation of core institutions, including financial institutions, corporate governance, lifetime employment, and the amakudari system. After four decades of rapid economic growth in Japan, the 1990s saw the country enter a prolonged period of economic stagnation. Policy reforms were initially half-hearted, and businesses were slow to restructure as the global economy changed. The lagging economy has been impervious to aggressive fiscal stimulus measures and has been plagued by ongoing price deflation for years. Japan’s struggle has called into question the ability of the country’s economic institutions, originally designed to support factor accumulation and rapid development, to adapt to the new economic environment of the twenty-first century. This book discusses both historical and international comparisons including Meiji Japan, and recent economic and financial reforms in Korea, Scandinavia, Switzerland, and New Zealand, placing the current institutional changes in perspective. The contributors argue that, contrary to conventional wisdom that Japanese institutions have remained relatively rigid, there has been significant institutional change over the last decade.

This book investigates the connections between socio-structural aspects, individual agency and happiness in contemporary Japan from a life course perspective. The contributors examine empirical data on the processes which impact how happiness and well-being are envisioned, crafted and debated in Japan across the life-cycle. The book discusses the shifting notions of happiness during people’s lives from birth to death, analyzing the age group-specific experiences while taking into consideration people's life trajectories and historical changes. It points also out recent developments in regards to demographic change, late marriage, and the changing labor market.

For much of the twentieth century, Confucianism was condemned by Westerners and East Asians alike as antithetical to modernity. Internationally renowned philosophers, historians, and social scientists argue otherwise in Confucian Political Ethics. They show how classical Confucian theory--with its emphasis on family ties, self-improvement, education, and the social good--is highly relevant to the most pressing dilemmas confronting us today. Drawing upon in-depth, cross-cultural dialogues, the contributors delve into the relationship of Confucian political ethics to contemporary social issues, exploring Confucian perspectives on civil society, government, territorial boundaries and boundaries of the human body and body politic, and ethical pluralism. They examine how Confucianism, often dismissed as backwardly patriarchal, can in fact find common ground with a range of contemporary feminist values and need not hinder gender equality. And they show how Confucian theories about war and peace were formulated in a context not so different from today's international system, and how they can help us achieve a more peaceful global community. This thought-provoking volume affirms the enduring relevance of Confucian moral and political thinking, and will stimulate important debate among policymakers, researchers, and students of politics, philosophy, applied ethics, and East Asian studies. The contributors are Daniel A. Bell, Joseph Chan, Sin Yee Chan, Chenyang Li, Richard Madsen, Ni Lexiong, Peter Nosco, Michael Nylan, Henry Rosemont, Jr., and Lee H. Yearley.

A Companion to Japanese History provides an authoritative overview of current debates and approaches within the study of Japan’s history. Composed of 30 chapters written by an international group of scholars Combines traditional perspectives with the most recent scholarly concerns Supplements a chronological survey with targeted thematic analyses Presents stimulating interventions into individual controversies