Take Japan in the late 1940s. The nation was gutted by defeat from World
War II in every way—economically, industrially, culturally, socially. A
brutal winter in 1946 caused a famine that limited food to less than 800
calories per person per day.
Imagine if a Japanese academic had written a newspaper article during this
time that said:
Chin up, everyone. Within our lifetime our economy will grow to almost 15
times the size it was before the end of the war. Our life expectancy will
nearly double. Our stock market will produce returns like any country in
history has rarely seen. We will go more than 40 years without ever seeing
unemployment top 6%. We will become a world leader in electronic
innovation and corporate managerial systems. Before long we will be so
rich that we will own some of the most prized real estate in the United
States. Americans, by the way, will be our closest ally and will try to copy
our economic insights.
They would have been summarily laughed out of the room and asked to
seek a medical evaluation.
Keep in mind the description above is what actually happened in Japan in
the generation after the war.
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AndreyKhoviakov22 апреля 2026
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Rebirth19 мая 2025
