In established capitalist countries, the driving force behind economic growth is "population growth."
If Japan's population had continued to grow steadily after the bubble period, it might have been the world's leading economic superpower by now.
Consider the "World Population Rankings by Country" from 1950 (unit: millions):
1. China - 554
2. India - 357
3. United States - 157
4. Russia - 102
5. Japan - 83
6. Indonesia - 79
7. Germany - 68
8. Brazil - 53
9. United Kingdom - 50
10. Italy - 47
11. France - 42
In 1950, during the dawn of Japan's high economic growth era, its population ranked fifth in the world.
Japan was indeed a populous nation.
Moreover, at that time, G7 participating countries - the United States, Japan, Germany, the United Kingdom, Italy, and France - were also populous nations.
This fact alone underscores the importance of population as a driving force for national development.
Even today, the world's largest economic superpower, the United States, remains the third most populous nation, unchanged since 1950.
Whether in a nation or a company, as long as growth continues, citizens or employees who earnestly strive can achieve returns greater than their efforts.
This, perhaps, is the reason why capitalism supplanted socialism and communism.
During Japan's era of economic growth, things were truly good.
Tax revenues were on the rise, fiscal health was sound, and if you worked for a decent company, bankruptcy was unlikely, allowing employees to work until retirement.
With business expansion, salaries increased as well.
In an inflationary economy, interest rates were high, resulting in a plethora of low-risk, high-return financial products.
Even stock investments were low-risk, super high-return until the bubble burst.
Real estate investments were profitable for everyone due to the land bubble.
At one point, it was said that you could buy the entire United States with the price of land inside Tokyo's Yamanote Railroad Line.
Individual assets increased steadily, leading to a "middle-class society" with fewer worries about retirement.
However, when Japan's economic growth stalled, everything started to go wrong.
For over 30 years, things have been deteriorating.
Upon reflection, it becomes clear that the driving force behind the growth of capitalist nations with established economic foundations is population growth.
If Japan's population had continued to grow steadily after the bubble period, it might have been the world's leading economic superpower by now.
In fact, the United States has seen an increase of nearly 100 million people in the last 30 years, while Japan's population is declining.
It's worth noting that Japan's politics haven't necessarily been bad, nor has the population's capabilities declined.
Perhaps unconsciously, those who became wealthy during the bubble era started to think that a population of 100 million was too much for this small island nation.
Japan, with its limited land area, may have experienced a form of "biological self-restraint."
While it may seem simplistic, the message is clear: we must not underestimate population decline.
However, with the Earth's population exceeding 8 billion, we are approaching limits.
In this context, it may be advisable to stop expensive and otherworldly efforts to combat declining birth rates and follow in the footsteps of the United States by welcoming immigrants.
Becoming an "Immigrant Nation Japan," much like the beloved United States, and adopting English as the official language might also be a viable option.
The population target is a bold 200 million people.
