7 ms·
The article meanders a lot without making coherent points, making a lot of false assumptions. It's one of those articles that's written by a journalist for jou
by antisthenes 9y ago
The article meanders a lot without making coherent points, making a lot of false assumptions.
It's one of those articles that's written by a journalist for journalists in an attempt to get some sort of participation trophy, without regard for the soundness of underlying arguments or readability.
Also, maybe stop blaming economists in every paragraph, when you can't even get the basics right yourself:
"What are the factors that drive economic growth? If we pull out and dust off our econ textbooks, we’ll read that growth is a function of higher investments, spending, trade, productivity, and so on."
Well, Dan, here you go:
https://en.wikipedia.org/wiki/Solow%E2%80%93Swan_model https://en.wikipedia.org/wiki/Solow%E2%80%93Swan_model
All your mumbo-jumbo about optimism and other obscure factors that you invented while writing this JFJ piece can be summed up by the A parameter in the model.
The current unemployment rate in Japan is 2.8 percent. Japanese millennials get to enjoy a fairly tight labor market, which means they ought to have their pick of company to work for.
Low unemployment rate does not automatically mean better bargaining power for labor.
I'd consider asking for a refund on those economics classes you took.
- tpeo 9y agoOf the things he listed, the technical change parameter only represents productivity. Though he does wander quite a bit, I don't know what's particularly obscure about trade. You should cut the guy some slack.