Arindam chaudhuri, editor-in-chief, Business & economy
The government tried everything. They gave shopping holidays. They gave mass discount vouchers. But nothing could increase demand. However, every time a new breakthrough product – say, like an iPod – was launched, it was a sell out in the first week itself in Japan. The same with fancy new Louis Vuitton purses. The stores would run empty on the first day itself! It was only when companies like Toyota realised that they cannot keep selling cars endlessly to their home market that they went really aggressive in the western markets – and the rest is history. While General Motors is about to file for bankruptcy anytime, Toyota is now the world’s No.1 car maker! Japanese companies grew bigger by catering to the world markets when their home markets shrunk!
And the markets have to shrink finally after one level of affluence! And that’s great for the world. Because Earth needs sustainable development. It doesn’t need monstrous consumers who keep consuming at the cost of the environment and the Earth. There should be limits to growth; and consumers, for their mental well being, should not be converted into material dustbins for the profits of a handful of corporations. That’s why the Japanese recession has been good for the Earth. And what the Japanese – due to their small homes and culture – stopped doing years back, is finally going to happen with the west, now with this recession setting in. And nothing can prevent this from happening. No Barack Obama, no bailout packages. And thank God for that!
And the markets have to shrink finally after one level of affluence! And that’s great for the world. Because Earth needs sustainable development. It doesn’t need monstrous consumers who keep consuming at the cost of the environment and the Earth. There should be limits to growth; and consumers, for their mental well being, should not be converted into material dustbins for the profits of a handful of corporations. That’s why the Japanese recession has been good for the Earth. And what the Japanese – due to their small homes and culture – stopped doing years back, is finally going to happen with the west, now with this recession setting in. And nothing can prevent this from happening. No Barack Obama, no bailout packages. And thank God for that!
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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