Japan is losing its fight for economic revival. Its young are losing hopes – of getting good job, becoming wealthier, or charm of building assets or starting a family. According to an article in Japan Times ‘Generation Resignation youngsters defy stereotypes’:
“Today, a sense of passivity is believed to prevail among the young, who are often referred to as “Satori no Sedai” (“Generation Resignation”) — those born just around the time the economy started its slide two decades ago.”
“Critics say youths in this generation are unambitious, averse to risk and reluctant to engage in romantic relationships. They are also said to have little appetite for luxury goods and generally are not willing to go the extra mile to achieve goals.”
“Critics say some young people don’t have high hopes because they don’t know how to realize their ambitions and dreams amid the long-standing economic slump.”
Japan’s young people are leading a comfortable lifestyle so they probably see no threat of losing anything if they give up. This is way different from developing countries where there is much heavier cost of doing nothing.
I think Japan needs massive dose of enthusiasm – either via competition with someone, or threat of some sort, or maybe immigration, to start growing again. Another route could be economic pinch – fall in fiscal support, fall in wages, fall in living standards, rise in desperation. In that scenario, the government should withdraw all artificial support, and let the country go through a steep recession to cleanse the systems. In absence of that it might continue its slow crumbling.
“Today, a sense of passivity is believed to prevail among the young, who are often referred to as “Satori no Sedai” (“Generation Resignation”) — those born just around the time the economy started its slide two decades ago.”
“Critics say youths in this generation are unambitious, averse to risk and reluctant to engage in romantic relationships. They are also said to have little appetite for luxury goods and generally are not willing to go the extra mile to achieve goals.”
“Critics say some young people don’t have high hopes because they don’t know how to realize their ambitions and dreams amid the long-standing economic slump.”
Japan’s young people are leading a comfortable lifestyle so they probably see no threat of losing anything if they give up. This is way different from developing countries where there is much heavier cost of doing nothing.
I think Japan needs massive dose of enthusiasm – either via competition with someone, or threat of some sort, or maybe immigration, to start growing again. Another route could be economic pinch – fall in fiscal support, fall in wages, fall in living standards, rise in desperation. In that scenario, the government should withdraw all artificial support, and let the country go through a steep recession to cleanse the systems. In absence of that it might continue its slow crumbling.
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