Report says lack of ‘intellectual diversity’ at senior level and too wide a range of priorities led to errors and fall in public confidence

Report says lack of ‘intellectual diversity’ at senior level and too wide a range of priorities led to errors and fall in public confidence

  • HobbitFoot English
    1·
    1 year ago

    The “economic miracle” ended in the mid 90’s, with GDP stalling out compared to other countries. Japan is a wealthy country, but it isn’t growing the same way other countries are.

    • CurlyWurlies4All@slrpnk.netEnglish
      2·
      1 year ago

      “I wouldn’t attribute too much to Japan’s quarterly growth rate—but I would give them some credit for not leaving as many people behind,” said Nobel-winning economist Joseph Stiglitz of Columbia University. “The big advantage they had was that before their malaise set in, they had achieved a far more egalitarian state.” Or as International Monetary Fund (IMF) economists Fuad Hasanov and Reda Cherif conclude in one recent paper, the Asian miracles’ economic models—mainly the ones used in Hong Kong, South Korea, Singapore, and Taiwan—“resulted in much lower market income inequality than that in most advanced countries.”

      • HobbitFoot English
        1·
        1 year ago

        But I wouldn’t call it an economic miracle. It is good that they’ve maintained a relatively equal economy, but it is still a relatively stagnant economy.