Washington Post writer Robert J. Samuelson’s July 2 column in The Japan Times, titled “Entering uncharted territory of broken models,” was interesting for pointing out that too much money and talent were poured into the finance sector in past decades.
This sector doesn’t impose heavy costs for construction and inventory, but the excessive concentration of resources in the finance sector gives rise to economic bubbles that eventually burst.
To break free of this recurring situation, though it may sound dour, America must build a stable society that enables people to relax and cooperate across different positions — to encourage more people to plant business seeds for themselves without having to depend on government aid.
Leaders of government, rich people and the mainstream media should reach consensus, at least, on the basic issue. America’s leadership this century will depend on its ability to put its society on the right track.
The opinions expressed in this letter to the editor are the writer’s own and do not necessarily reflect the policies of The Japan Times.