🇯🇵 Why Japan’s Economy Is So Fiercely Inefficient | WSJ
“WSJ’s Peter Landers explains how being fiercely traditional is weighing down Japan’s economy.”
#Video length: five minutes and fifty three seconds.
@Smrki @economics What do you think about the question raised in the video namely that traditional methods are make the Japanese economy inefficent?
@bibliolater @economics I am very cynical about it. I mean this comes from a country which has exported its knowledge and industry to China, in a futile attempt to raise its efficiency. What is efficiency? Efficiency for whom? Removing all jobs and sending them overseas? Is that efficient, transforming an industrial country into a collection of rust belts? I disagree with that. I think both Japan and Germany decided against that, and did well.
@Smrki I agree that deindustrialization is not only problematic but myopic and counterproductive in the long run. It has not worked out well for many.
@bibliolater @economics I think using stamps and fax machines are peculiar and interesting. I don't think this is what defines Japans industry and economy. I think Japan is a bit more influenced by Toyota, Panasonic and similar. In essence I think the video is cherry picking from a narrow standpoint. Just my opinion of course, I am no expert on Japan or fax machines.
@bibliolater @economics Thats hilarious, coming from a country which exported all its industry to China and is now unable to produce paper masks and rubber gloves during a pandemic.