The Economy of Japan: how a Superpower Fell from Grace in Four Decades

Video Description

In 1989, the world was simultaneously fearful and in awe of the rise of the magnificent Japanese economy. So…. What the hell happened? WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS? △ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro △ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro △ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y △ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA △ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE △ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS 5 BOOKS THAT INSPIRED THIS CHANNEL The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen) https://twitter.com/joerischasfoort https://www.linkedin.com/in/joeri-schasfoort/ Script and Sources: Check out the sources (a.o. Richard Werner's books, Bank for International Settlement speeches, and Japanese newspapers) that I used for this video in the the script that you can find on my blog: https://www.moneymacro.rocks/2021-03-22-economy-japan/ Timestamps: 0:00​ - introduction 1:20​ - 1980s 8:03​ - 1990s 14:46 - 2000s 21:34 - 2010s 29:19 - the future & conclusion Attribution: clips trump protest: CC John Doyle clips from Migrant rights protests UK CC Steve Eason clips from Colorado immigration protests CC Unicorn Riot clip Japanese politicians CC douga bubble clip Disneyland opening CC Shatner Method picture Orban & Putin CC Kremlin.ru picture Helicopter money CC TGCP Songs: Ishikari Lore by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100192 Artist: http://incompetech.com/ Further description: While Japans economic might is still widely respected, it used to be the rising superstar of Asia. How did the economy of this Asian archipelago, which came so close to overtaking America as the number one economic superpower, end in deflation and stagnation? I mean, by now it’s gotten so bad that the Bank of Japan, in a desperate attempt to turn this situation around, has bought up to 70% of government debt and has even become the biggest shareholder of corporate Japan. This mini-documentary covers the period from 1979 till 2021 and spans Japan's asset bubble decade (featuring window guidance and the housing + stock bubble) as well as the three following decades that were characterized by debt-deflation and a banking crisis, the inflation expectations trap and population decline, respectively. It also has a critical look at Abenomics (from prime minister Shinzo Abe) and contains recommendations for the future of the Japanese economy.