How is the working class doing there?
Can a contraction of GDP occur without driving down living standards?
A while back, I saw a national geographic showing the rows of homeless in Tokyo, the overwhelming consumerism and concern for material status among kids. I believe firms aren't hiring entry level any more and are letting salarymen retire and attrition before they can move production without losing face.
Comments? Suggestions for reading? -- Eugene Vilensky evilensky at gmail.com