TOKYO — As recession-wary Americans adapt to a new frugality, Japan offers a peek at how thrift can take lasting hold of a consumer society, to disastrous effect. The economic malaise that plagued Japan from the 1990s until the early 2000s brought stunted wages and depressed stock prices, turning free-spending consumers into misers and making them dead weight on Japan’s economy. Today, years after the recovery, even well-off Japanese households use old bath water to do laundry, a popular way to save on utility bills. Sales of whiskey, the favorite drink among moneyed Tokyoites in the booming ’80s, have fallen to a fifth of their peak. And the nation is losing interest in cars; sales have fallen by half since 1990. The Takigasaki family in the Tokyo suburb of Nakano goes further to save a yen or two. Although the family has a comfortable nest egg, Hiroko Takigasaki carefully rations her vegetables. When she goes through too many in a given week, she reverts to her cost-saving standby: cabbage stew. ‘You can make almost anything with some cabbage, and perhaps some potato, says Mrs. Takigasaki, 49, who works part time at a home for people with […]
Monday, February 23rd, 2009
When Consumers Cut Back: A Lesson From Japan
Author: HIROKO TABUCHI
Source: The New York Times
Publication Date: 22-Feb-09
Link: When Consumers Cut Back: A Lesson From Japan
Source: The New York Times
Publication Date: 22-Feb-09
Link: When Consumers Cut Back: A Lesson From Japan
Stephan: I don't know about you, but I am feeling very Japanese these days.
Thanks to Judy Tart.