Reinstatement of the Capital
The finance crisis originated from
the United States in bad loan, subprime loan bring out unprecedented world
recession.
Continuous failure that start from
Lehman brothers holdings caused failure of the most famous financial
institutions and continuous failure to the United States BIG THREE automaker
have caused the chain phenomenon as same as the economic thesis, depression →
decrease of investigation → decrease of consumption → long term recession.
The large consumption country, the
United States, 's recession has caused a more serious recession to a all over
the world exporting countries that export to United States.
Inactive export of the car leads to
the dismissal of the subcontract related to the auto sector with wide skirts of
a mountain, though Japan assumed that the influence is comparatively little.
I think that both causes and
measures had mistake for essence though the report of the mass communication is
active.
In a word, I think the gambling
capitalism is root cause, they concealed the risk skillfully, cheated
everybody, and get gains big profit. I think the only measure is to restrict
their activity, however I can't find such opinion.
When looking back ahead for a
moment, it is said that only the United States walked the path of
righteousness, and Japan and communist nations made a mistake, therefore it was
said necessary to learn the United States.
The history is mysterious. Years of
1990 was an age of a historical change.
The sudden break-up of the Soviet
Union that no one expected caused the system collapse of Communist state all
over the world.
Peoples of the world thought it as
the victory of capitalism, the defeat of communism.
The planned economy by the monopoly
class guidance reduce people's ambitions as a result, and took the delay in the capitalism.
The capital theory disappeared from
the Department of Economics lecture of university as a useless theory.
Japan at that time resembled closely
to United States recession, as failure of the housing loan companies by burst
of the economic bubble → failure
of finance institution → long time
economic recession → unemployment rate increase..
E<<The United States kept
being not chased easy money, single-mindedly working nothing but on IT
development, achieving the second Industrial Revolution of creation of intellectual
industry from the mechanization industry splendidly, developing a new business
by deregulation one after another in addition, and had been prospering.
Japan at this time was an age of
disgrace of lost decade.
Koizumi Cabinet at that time also made
making to IT the centerpiece of the reformation and the people's support was
won.
How did the United States become it
afterwards ?
IT applied new business has advanced
toward the extraordinary direction.
It got the profit tens of times of
principal by the technique that is called leverage, and they were called as
gamble capitalism.
It might be a present cause of the
recession because it neglected investment in manufacturing with strong
employment power, and it specialized in a financial industry with small
employment power.
The recovery of Japan was called
lost decade.
It will take also ten years to
recover the United States.
It is a serious situation for the
export industry in the world.
I learnt that the purpose of
economics was study that pursue how all people became happy.
Do not forget the basis of all value
is labor.
I think that the distribution of the
value should be better for workers and less for non labors.
We must remind that basis of value
is labor.
Japanese think most respectable
thing is working with sweat. I think it is the time for review based on this
idea.
I think that Japanese don't like the
society severe to the weak people.
The famous bestseller proletariat
novel before the second world war " floating crab cannery"
is read among young people now, and the capital theory sells in the bookstore.
It is clear that there is a big
fault for capitalism that drives recklessly to the profit pursuit though it is
also true that communism had the fault.
I think the study of the Capital at
university will re-start soon.
Oct. 17’10 Y.Noguchi