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

  • BlameThePeacock@lemmy.caEnglish
    5·
    10 months ago

    It’s easy to keep inflation down when your population is decreasing by 0.5% per year and accelerating downwards, with far more people aging out of the workforce than entering it. Japan is going to be in for a world of economic hurt over the next two decades.

    China’s population has peaked too, and it’s economic outlook is going to be very dire when the big age cohort currently in their 50s starts retiring in 10-15 years.

      • HobbitFoot English
        1·
        10 months 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·
          10 months 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·
            10 months 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.

      • BlameThePeacock@lemmy.caEnglish
        1·
        10 months ago

        Considering that their population only started decreasing about 4-5 years ago, I don’t know how “decades” is possible.