"The Surprising Wealth and Success of Japan"

[Mulboyne]

"Frank Weil is the Chairman of Abacus and Associates, Inc., a private investment firm in New York"

The Atlantic: The Surprising Wealth and Success of Japan

What is the difference between a developed society that has remained in an economic slump for 20 years and one with steady prosperity for the same period of time? The answer is not clear. But that question dogged my mind in a recent two week visit to Japan after a gap of 20 years. The Japan of today is amazingly prosperous. The first thing you notice is that it is spic and span clean: not a cigarette butt on a station platform; metro car floors you could eat off of; all new autos including many Mercedes and BMWs; endless flows of prosperous Japanese students and other tourists; ultra modern buildings everywhere; restaurants full of diners; Kobe beef at $250 or more a pound. In back streets of Tokyo and Kyoto, there is not a sign of poverty, dirt, or disease...[A] large percentage of Japanese people start their days exercising either in public, or at home to the same TV hosts...

...the Japanese seem to have done more with less by making their people reasonably happy despite fewer resources. This surely has roots in Japanese welfare, with its remarkably fair treatment of people of all ages and needs, and Japanese education, a world leader built on intensive early literacy lessons and a "distillation" methodology that identifies and caters to the best students. Throughout their education and lives, Japanese teamwork and collective good is stressed and rewarded. This all for one, one for all mentality is rare in today's world, but it serves Japan well...Their population seems to be willing to make shared sacrifices to maintain the elements of daily life that they consider most important: social harmony and order, safety and environmental health...more...

:smashpc:

[Netherlander]

[Screwed-down Hairdo]

Don't think I'd like to be getting investment advice from Abacus and Associates...

A quick walk home from the station along the road that was filled with over 30 apparently thriving businesses when I moved to my current location a little more than a decade ago tells a much more telling story about Japan's economy: only two of those stores now remain in business and they appear to have sparse patronage. And I live in one of the country's fastest-growing areas.

[2triky]

Don't think I'd like to be getting investment advice from Abacus and Associates...

That's why people gave up the abacus in favor of the calculator...perhaps this guy should invest in one.

[Tsuru]

The prevalence of these idiots among Western economists who think Japan is doing oh so well and even publicly use it as an example why we have nothing to fear from a massive national debt load is staggering.

[Mulboyne]

Frank Weil's bio.

Frank Weil is the Chairman of Abacus and Associates, Inc., a private investment firm in New York, NY. From October 1979 - June 1983 he was a senior partner of the Washington law firms of Ginsburg, Feldman, Weil and Bress, chartered and Wald Harkrader and Ross. Mr. Weil headed the International Trade Administration of the United States Department of Commerce from 1977 - 1979. He was Chairman of the Finance Committee and Chief Financial Officer of the investment firm of Paine, Webber Inc. from 1972 - 1977.

Mr. Weil has served on the for-profit boards of directors of MirrorWorldsTechnologies,SyVox Corporation, Exxel Container, Inc.; Geico Corp.; Paine Webber, Inc.; Cambridge Royalty, Inc.; Dorr-Oliver, Inc.; Hamburg Savings Bank, NYC; J.B. Lippincott Company, Philadelphia and Victory Mutual Funds, Cleveland.

Mr. Weil was a Trustee and Vice Chair of The Asia Society in New York City and was Chairman and a member of the National Board of the Smithsonian Institution in Washington, D.C. Mr. Weil is a member of the Century Association and Harvard Club (both in New York City) and the Metropolitan Club (Washington, D.C.).

In not-for-profit activities, Mr. Weil has also served on the boards of directors of the National Democratic Institute for International Affairs, the Center for National Policy, as Vice Chairman of the Board of Governors of the Atlantic Institute for International Affairs and Inform. He is a member of the Council on Foreign Relations in New York. Mr. Weil served on the Board of Directors of the Council for Excellence in Government from 1982 – present and was Chairman from 1988 - 1993.

He is a director and President of Hickrill Foundation and Treasurer of the Norman Foundation. He was President of the Education Alliance (NYC); a trustee of Montefiore Hospital and Albert Einstein Medical School (NYC); Teachers College/Columbia University, and Hurricane Island Outward Bound School (Maine); Trustee and Vice Chairman of Northern Westchester Hospital; Trustee and Chairman of the Board of the Harvey School, Katonah, New York; Trustee and Secretary of the Federation of Jewish Philanthropies of New York. Mr. Weil served on the Visiting Committee of the John F. Kennedy School of Government and Committee on University Resources at Harvard from 1972 - 1998. He was a member of the Advisory Board at the School for Advanced International Studies, John Hopkins University.

In the field of public policy, Mr. Weil served as Chairman of the Committee on Taxation of the New York State Economic Development Board from 1975 - 1977, and Chairman of the New York State Board of Equalization and Assessment from 1976 - 1977. In 1986 he served on the New York State Advisory Commission on Liability Insurance and has served on Governor Cuomo's New York State Council on Fiscal and Economic Priorities and its sub-committee on New York City Transit.

Mr. Weil was born on February 14, 1931 in Bedford, New York. He graduated cum laude from Harvard College in 1953 and from Harvard Law School in 1956. He is domiciled in Wilson, Wyoming and maintains residences there and in New York City, Washington, DC and Stonington, Maine. He has been married to the former Denie Sandison since 1951. They have four children, nine grandchildren and one great-grandchild.

[LTLurker]

No question the article is short on facts and long on generalities.

But if all you know about Japan is what you read in the Western media, you could be forgiven for thinking the entire country is a poverty-stricken wasteland, one step removed from North Korea.

[Coligny]

Are you fracking kidding me! Is this what passes for journalism today? (...) Pathetic!:wall:

The guy is into sales of "warm and fuzzy" to scam people out of their investment money...

You can't exactly do this and be honest at the same time...

[Jack]

No question the article is short on facts and long on generalities.

But if all you know about Japan is what you read in the Western media, you could be forgiven for thinking the entire country is a poverty-stricken wasteland, one step removed from North Korea.

And I think that's what he is trying to accomplish. Japan is not as bad as the media make it out to be. Besides, he is not a journalist. He is merely giving an opinion and his observationa. Does not need to back up what he says. What He says is largely true.

The subway floors are clean. The city is spic and span clean. There is no slums anywhere in Japan. Any street, however dimly lit or secluded is safe. Stores are full. No matter how often I read in this forum that things are shitty, I spend a lot of time in stores and everywhere I go I see full of people.

I know what I see, not what others say.

[Mulboyne]

I spend a lot of time in stores and everywhere I go I see full of people.

You said that before, specifically about department stores, and the industry went into a multi-year tailspin from which it hasn't yet recovered.

The guy wasn't "just giving his opinion": he was drawing some general conclusions about the state of the country based on the impressions he gained over the course of a two week trip. If he'd taken a cursory look at some statistics to see if they confirmed his views, he would have been disappointed.

No-one would deny that Japan remains one of the richest countries in the world. However, if you resort to fairy tales to make that point then you are either very badly informed or else you have another agenda you want to promote.

[wuchan]

There is no slums anywhere in Japan. .

Go into the danchis across the street from Ikea at shinmisato at night.

[Screwed-down Hairdo]

There is no slums anywhere in Japan.

At the very least, there are:
Sanya
Airin (Just about any part of Nishinari-ku...)

[Coligny]

At the very least, there are:
Sanya
Airin (Just about any part of Nishinari-ku...)

every park in Nagoya... (blue tent city...)

But must admit... them night are pretty safe... When you're not living in a city where the weather or the fauna is out there to get you...