Why was Japan so unsuccessful in solving the problem of deflation over Essay

Why was Japan so unsuccessful in solving the problem of deflation over the past decade - Essay Example On 29 December 1989, the Nikkei peaked at 38, 916 after a five year return of 237%. The rate in June of 2008 was at 14, 354 which is a startling 63% lower than the 1989 figure (Harrison 2008). According to the International Monetary Fund (2006), Japan was experiencing recovery from its previous declining position, but by 2009, the International Monetary fund showed recognition that the economic downturn of 2008 had stifled progress and the deflation was still a pervasive issue. As Shown in the graph examples in figure 1, both the real estate market and the stock market have shown steady deflationary trends since 1990. There have been a series of attempts to remedy the problem of deflation in Japan. These attempts include fiscal expansion, reduction of interest rates, Yen depreciation, and finally a zero interest rate program followed by a quantitative expansion program (Greenwood 2010). Unfortunately, these programs have all been ineffective in providing relief from the ongoing deflationary period. Greenwood (2010) states that the lack of recovery is due to poor political and economic leadership, an unwillingness to adopt unorthodox strategies, mistakes at the technical level, and the appearance of a â€Å"balance sheet recession†. An expansionary fiscal policy adopted by a government is marked by measures that are taken in order to create increased economic stabilization through governmental policies intended to create economic stimulus. In 1981, Yasuhiro Nakisone, Prime Minister of Japan, instituted polices that were stringent for the Japanese economy. However, by 1986, Naksone believed that these policies would require some adjustment in order to avert the looming crisis. A private advisory group headed by Bank of Japan Chairman Maekawa Haruo and commissioned by Nakisone submitted a report commonly referred to as the Maekawa Report which states that the Japanese economic policies and

Argue a global issue presented in or surrounding your short story. How Research Paper

Argue a global issue presented in or surrounding your short story. How stereotyping or judging people affects our society. (base - Research Paper Example We find the women of the village adoring the man, seeing his lovely face and body. The physical qualities of the man makes women attached to him. Villagers translate his physical qualities into his personality (Rabassa, 2010). Women of the village feel sympathy for him and thinks how good it would have been if the man was alive. Villagers feel for the man who is dead. The village people arrange grand funeral arrangements for the man only because he is handsome. The modern world has the same mindset as the people of this village; stereotyping is the core concept that rules the world. Prejudice and stereotyping corrupts relationships. Multicultural societies are under the curse of prejudice and discrimination. Considering the United States as an example we can find that prejudice is the most crucial feature of the society. It is nothing but prejudice that has caused discrimination, oppression and tensions among various racial and ethnic classes in the United States (Forbes, 2010). Prej udice results in racial profiling, alienation, housing segregation, dangerous ethnic jokes and various other problems (GLIMUN, 2009). Prejudice demolishes all types of fellowships. No relationship would abide in the presence of prejudice. The very word racism is defined as a prejudice that makes the members of one race feel themselves intrinsically superior than the members of another race (GLIMUN, 2009). Prejudice reflects segregation, and it has completely blocked the progress of the nation. The term ‘prejudice’ now symbolically represents the life of the negatively privileged minorities in the United States. This strange racial prejudice has resulted into an isolated, ill developed and racially segregated society that has encouraged racial mistrust, senseless conflicts and other discriminations that prevents the society from obtaining true racial equality (United Nations, 2010). Prejudice hinders cooperation and mutual respect and destroys relationships. Prejudice di ssolves the good relationship between people of different race, ethnicity and nationality. Racial prejudice and segregation has resulted in systemic inequalities that stand as a barrier to the development (of the whole society) and personal improvement of individuals. Prejudice has contributed for the widening of the socio-economic gap between superior group (whites) and the minorities (blacks). Racial prejudice has led the nation to various curses like racial profiling. Racial profiling is an act from the side of police (or a private security practice) through which a person is religion unnecessarily suspected because of the inferior nature of his/her race, nationality, ethnicity or religion (Cole and Smith, 2010). Police officers often stop, check, and examine the vehicles of their victims (by force also) without any reason or proof about the misbehavior or criminality of the person (Cole and Smith, 2010) (Cleary, 2000). Racial profiling arises as a result of the wrong prejudice t hat the racially inferior people are likely to commit crimes (though it is not so). African-Americans and Latinos are the victims of racial profiling in most cases. Police has got a general belief that non-white people are mostly drug users and sellers. But studies (reports regarding police stops and checking) have revealed that people who are considered to be racially inferior