Stoicism is not Resilience

For those of us who have long been arguing that the global supermarket has led to resource insecurity and social vulnerability the situation in Japan presents itself as an unwelcome object lesson. The complex and intertwined system of a modern society, where electricity, internet, money, food and transport systems are interdependent and highly demanding of energy appears impressive until one part of the chain breaks, and then the others rapidly follow.

A natural disaster like this looks quite different in a technologically sophisticated society like Japan, from the very similar tsunami that hit the less developed areas of Indonesia and the Indian Ocean in 2004. The energy embodied in the airports, highways and rail networks in Japan is immense; while economists argue about whether Japan can afford to borrow enough to replace them, it is the energy cost of rebuilding so much complex infrastructure that is more troubling to a green economist.

The thoughtful coverage on Newsnight last night included economists suggesting that the natural catastrophes affecting Japan may be just the stimulus it needs to get back to the sort of growth path neoliberal economics expects. A new twist on the 'disaster capitalism' idea. There was no consideration of the embodied energy that has been lost in the earthquake and tsunami and the climate cost of replacing this infrastructure.

It seems exquisitely unfair that the Japanese, having been the only nation to suffer the effects of nuclear bombs, are now to become major victims of civilian nuclear power. From the forced ending of Japan's Tokugawa shogunate in 1868, through its use as a testing-ground for US nuclear aggression, through the forced imposition of the American dream during a 7-year occupation after World War II, Japan has not fared well at the hands of Western 'civilisation'.

The dignity, grace and stoicism of the people has impressed Western journalists. But stoicism is not reslience, and these people are the victims of scientific hubris as well as of natural disaster. Rather than rejoining us on the self-destructive high-energy path of consumer capitalism, is it too much to hope that these natural disasters might lead to a return by the Japanese to a path more in keeping with their indigenous Shinto way of living in balance with nature?
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The Zen Road to Affluence?

Finding that there is more to economic life than growth is not news to many readers of this blog, but finding that this lesson is being promulgated by the Financial Times is a little bit more surprising. It immediately sends my mind racing in the direction of conspiracies to keep us bovine and submissive in the face of falling wage levels and growing inequality. But so long as our lower level of material wealth comes with greater well-being, more leisure, friendship and conviviality, why should we care?

David Pilling, the author of this article, is straying into dangerous territory for a pro-capitalist paper, by suggesting that politicians might not favour the accumulation of capital in their economies as a primary goal. This does not seem much of an intellectual step from the call for politicians to take control over finance, and reintroduce credit and exchange controls, as called for by most green economists. And that would certainly be the end of globalisation as we - and the corporate billionnaires - know it.

Japan appears to have reached a different sort of accommodation with capitalism, one which enables a high standard of living without growth, and with some independence. By selling its national debt to its own citizens, it is at least closing some sort of circle. Issuing money to run the economy itself would be preferable, and any system of national financing based on debt will always transfer money from poor to rich, but at least the demands of rapacious bond markets are not a threat, nor the political power that foreign governments can exercise through their sovereign wealth funds.

The article by my near namesake Professor Kato, as recommended by David Pilling, is also well worth a read. Again there is nothing new here: it is rather the source of the story and the outlet where it was published that suggest this debate is on the move.

Meanwhile, instead of working why not squander some time on pointless games? We had great fun with our revolutionary top trumps over the festive break, and now there is a game you can play while 'working at your computer'. Send it to all your friends: debtris brings a whole new meaning to education for the life of leisure.
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