Saturday, April 15, 2006

Japan's middle class is vanishing

Said basically the same thing in this t.v. interview done in Memphis while attending the Southern Republican Leadership Conference in March, 2006.

Revival in Japan Brings Widening of Economic Gap (NY Times today)

OSAKA, Japan — Japan's economy, after more than a decade of fitful starts, is once again growing smartly. Instead of rejoicing, however, Japan is engaged in a nationwide bout of hand-wringing over increasing signs that the new economy is destroying one of the nation's most cherished accomplishments: egalitarianism.

Today, in a country whose view of itself was once captured in the slogan, "100 million, all-middle class society," catchphrases harshly sort people into "winners" and "losers," and describe Japan as a "society of widening disparities." Major daily newspapers are running series on the growing gap between rich and poor, with such titles as "Divided Japan" and "Light and Darkness."
In the advanced industrial world today economic gains come at expense of the middle class subsidizing the profits of the money center banks and megacorporations which are the only real beneficiaries of globalization.

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