Japan at the Crossroads

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Japan at the Crossroads

by Hazel Henderson
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Conventional economics perspective of GDP-measured growth, tells us that Japan is “stagnating” with excessive debt | http://bit.ly/1IwdJ7P

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Hazel Henderson, D.Sc.Hon., FRSA, founder of Ethical Markets Media, is a futurist, evolutionary economist and author of award-winning Ethical Markets: Growing the Green Economy.

Monday, December 15, 2014 - 12:30pm

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Japan faces a snap election on December 14thwith Prime Minister Shinzo Abe’s “Abenomics” on trial.  From the conventional economics perspective of GDP-measured growth, we are told that Japan is “stagnating” with excessive debt.  Economists dispense their usual bromides: “open up the economy”; “join the Transpacific Partnershp”; “cut government spending”; “tax more”; “tax less”; “print money” – lurching between austerity and stimulus.

As I wrote in August 2001 in Nikkei Ecology, from a futurist’s perspective all this advice is nonsensical and today even more so.  Japan is still undergoing the now global transition of mature industrial economies from short-term material economic growth at whatever social and environmental costs – to a more mature, long-term, system-wide social development.  As other countries in Europe, North America and now China, India and Brazil face the same breakdown of GDP-growth policies, new national scorecards and metrics of company success are emerging.

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Hazel Henderson, D.Sc.Hon., FRSA, founder of Ethical Markets Media, is a futurist, evolutionary economist and author of award-winning Ethical Markets: Growing the Green Economy. She leads the Transforming Finance initiative, created the Green Transition Scoreboard®, tracking global private sector investment in green tech, and developed with Calvert Group the widely used alternative to GNP, the Calvert-Henderson Quality of Life Indicators. In 2010 she was honored as one of the “Top 100 Thought Leaders in Trustworthy Business Behavior 2010” by Trust Across America.

Keywords: #SustainableFinance | Sustainable Finance & Socially Responsible Investment | CSRwire | GDP | Japan | conventional economics | quality of life

CAMPAIGN: Sustainable Finance on CSRwire

CONTENT: Blog

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