
Forget what you have heard about the hard-working Japanese salaried workers: since the early 1990s, the Japanese have drastically slackened their work habits...Former Prime Minister Junichiro Koizumi...understood all too well that Japan was losing ground in terms of productivity. [He] sought to counter the trend toward less work through privatization and deregulation. Japan's powerful bureaucrats...strongly opposed this bold, free-market solution...Moreover, public opinion never supported Koizumi's policy, which was alleged then, as it is now, to be a source of inequality. But that is a canard: real-estate speculation, not privatization, has been the real source of undeserved wealth in Japan. Nonetheless, the newly victorious Democratic Party of Japan (DPJ) has been able to make the accusation stick to free-market policies...Hatoyama makes no economic sense in declaring that growth is important but that happiness comes first. Nevertheless, this sentiment does reflect the mood of many Japanese...Are today's Japanese willing to work more in order to catch up with the United States and to lead Asia development? Stagnation is a tacit collective choice made by a country's majority. Have the Japanese people opted for it?...By contrast, a higher growth rate would require fewer golf breaks for salaried workers and significant immigration in a nation that is unaccustomed to foreign intrusion and different cultural habits. Are the Japanese really ready to accept such a cure? Most Japanese, mostly among the old generation, are satisfied with the kind of society they have built. They perceive Americans and Europeans as being obsessed with money and material ambition, and they seem ready to accept some stagnation as the price of remaining truly Japanese...Hatoyama's talk about a "new age," which sounds strange from a Western perspective, is in harmony with the Japanese way: this is a country where thousands of cult leaders offer myriad paths to Happiness, in particular a glib mishmash of New Age and Zen Buddhism...It may seem to most Japanese that their continuing economic power affords them the luxury of indulging such ingrained habits. Perhaps they should bear in mind Ernest Hemingway's description of how a man goes broke: "slowly, then all at once"...more...