Using Mass Hypnosis for the better: A lesson from Abenomics
Introduction The tragic and unforgivable killing of Shinzo Abe put a spotlight back on the defining characteristic of his time as Prime Minister i.e. Abenomics. The success of his economic policies is still debated due to mixed results over a number of years. Personally, I don't think judging an economic policy is that simple. A country like Japan does not operate in a vacuum and is affected by unforeseen events around the world. However, I still believe there is a lot we can learn from the shortcomings of his economic policy Abenomics and why it couldn't fulfill the promise: The 1990s and the 2000s were a two-decade period of Japan essentially stalling. Its industry, once the envy of the world, stopped innovating, and its trade surpluses, once the biggest in the world, stopped being so big. On top of that Japan, started suffering from degrading living standards and demographic problems. Abenomics was an attempt to use, easy monetary policy, loose fiscal policy, and structur