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Policy Paradigms for the Anorexic and Financialised Economy: Managing the Transition to an Information Society
By: Phuah Eng Chye
Book Condition: Very good, Ex-library
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RM39.90
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Description
The cover illustration juxtaposes themes from the popular US children's fairy tale and movie The Wizard of Oz and Japan's economic stagnation. The Wizard of Oz chronicles the adventures of young Dorothy who is plucked up from her farm by a cyclone and finds herself in the magical Land of Oz. The Wizard of Oz has been interpreted as an allegory depicting how the gold standard (the yellow brick road) imposed economic hardships on the populace; and that the economy could be revived by including silver in the metallic standard (Dorothy just needed to put on the silver shoes to get home).
In relation to Japan, the setting sun in Tokyo depicts an economy undergoing aging and decline. Dorothy is replaced by the Cosplay character representing the naรฏve youth, the scarecrow representing the influential farm lobby, the tinman by the unquestioning salaryman lacking in creativity while the cowardly lion reflects timidity in unlocking the full potential of women's contributions to society. The quartet's outbound direction reflects how misguided reliance on orthodox policy stimulus and industrial exports is leading Japan further away from a recovery. This is due to illusions on the benefits of outsized fiscal and monetary stimuluses and infrastructure spending propagated by politicians, financiers and property developers. People's income stagnates as Japan fumbles in developing a credible policy response to the displacement effects of information, globalisation and financialisation. The silver shoes are the policy paradigms needed to manage the challenges in the transition to an information society.
ISBN: 9789671404201
