How will Japan reinvent itself? NYT article

Declining as a Manufacturer, Japan Weighs Reinvention (April 15, 2012)

“It is time for Japan to find a new model for its economy,” said Masatomo Onishi, a professor of business at Kansai University. “We can follow the United States into a more postindustrial economy, or we can follow Germany into high-end manufacturing, but we shouldn’t be trying to compete with China in mass production.”

I wonder how much my college students are aware of and considering this issue...In general, I think Japan society may be a bit over-optimistic or insensitive as to how quickly it is losing ground, and how quickly factors of economic instability may reach a tipping point. Or, perhaps they are aware, but detached. Perhaps they have philosophically detached themselves from being part of an economic rat-race and decided to pursue other things of value in life? If it is intentional and philosophical, perhaps it is admirable. But if it is from a refusal to look around them and figure out what is going on, it feels dangerous, like some will be shocked beyond recovery when they find out their world isn't going the way it was supposed to.

Unfortunately, it may turn out to be true that sustained periods of affluence and stability, coupled with a tendency to isolate itself from immigration and influences from other cultures, may lead to stagnation of will power and energy to create something new among its younger generations. I hope not, but signs are showing. While my university tends to attract students with ambition and sensitivity to the world, my experience with other fairly prestigious university classrooms is that apathy and pursuits of short term pleasure reign. The kids live in a cushy dream world created by their grandparents and maintained by their parents. There is little sense of economic crisis or need to be competitive, and I just wonder where that is going to end up going...perhaps the stagnation is temporary, especially after 3/11, but there is no denying that an awareness of what is going on is important.

How will Japan reinvent itself? Whatever the answer is, I hope my students will be carefully considering not only the necessary economic strategy, but also what is needed in terms of social and educational development in order to create a society that balances pursuit of gain and pursuit of happiness for self and others.