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DPJ and Political Capital

Old news, I know. I haven’t been writing here much. Or at all. Anyway, so the DPJ won the last election in Japan, ending decades of rule by their competitor, the Liberal Democratic Party.  I guess the DPJ is the true liberal party of Japan, despite their competitor’s name. Although the DPJ does seem to favor small government, while the LDP was known for fat bureaucracy.

But I am kind of hopeful the DPJ victory will lead to good things, because I’m a bit suspicious of overly conservative governments (LDP), generally speaking. However, the new Prime Minister, Yukio Hatoyama, sounds like he might be  overly enthusiastic in his drive to reverse LDP policy. His op-ed in the New York Times (also quite old now) reminded me of a toned down Hugo Chavez. Hopefully he doesn’t do something too nuts, blow all of his party’s “political capital”, and restore the LDP to power in a blink of an eye.

Op-ed here.

Basically it sounds like he wants to distance his ties with the US, and tone down free markets and globalism. That just doesn’t sound like a good idea, economically speaking.  Sure, one could say the LDP didn’t do a hot job, but I think that was more due to a “You’re doing it wrong” type thing rather than due to capitalism, globalism, or free markets themselves.


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