Brendan Barrett, Japan as the New Normal: Living in a Constrained Economy, The Solutions Journal, Volume 4, Issue 4, August 2013, Pages 75-79 (https://www.thesolutionsjournal.com/article/japan-as-the-new-normal-living-in-a-constrained-economy/) Abstract: I am struggling to come to terms with the possibility that Japan may economically be the “new normal,” a situation where the economy is in recession for prolonged periods of time, seeing only fleeting periods of growth. My struggle relates to the fact that conventional wisdom would suggest that, after two decades of recession, Japan should be an economic and societal wreck. But quite the opposite is the case. In many respects Japan seems to be doing fine. Now what leads me to this conclusion? I was struck in particular by the findings of the 2012 Inclusive Wealth Report of the International Human Dimensions Programme on Global Environmental Change.1 Set up as an alternative to gross domestic product (GDP), the Inclusive Wealth Index reflects the state of natural resources, the economy, ecological conditions, the population’s health, and productive capacity, then measures whether or not national policies are sustainable. In the report, the authors looked at various … Topics: Conservation; Economy; Quality of Life