this post was submitted on 21 Mar 2025
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Economics Explained has an interesting video on the topic. After WWII, Japan became the first country in Asia to undergo an industrial revolution and soon became the second largest economy after the US and was by many accounts set to match or even overtake the US. They then suffered an economic collapse due to unchecked growth and speculative markets and decided to never again speculate on the future and just stick to tried and true methods.
Since the 1990s, Japan's economy has barely changed while other nations have seen huge growth. You'd assume that would mean Japan is now far behind, but they aren't. They seem to have mastered keeping everything the same for decades without the normal decline that comes with it.
Honestly, sounds great to me. I know they've had "issues" (is it really an issue for me if my money becomes more valuable?) with deflation, but I'd be OK with that if it meant no more speculation.
I hate inflation based economics. So ngl, japan seems really nice in that regard