Chapter 222
This year, not only did Japanese scholars achieve great success in the academic world—with Dr. Shimon Sakaguchi receiving the Nobel Prize in Physiology or Medicine and Dr. Susumu Kitagawa receiving the Nobel Prize in Chemistry—but Japanese athletes also shone brilliantly in the MLB World Series. As a result, Japan’s global reputation is soaring. However, the prevailing global perception remains that Japan’s period of rapid economic growth is over. Indeed, Japan currently ranks fourth in GDP, behind the United States, China, and Germany, and it is expected to be overtaken by India next year, after which its position will likely continue to decline. Although being fourth is better than many imagine, GDP rankings alone do not necessarily reflect the actual prosperity of a nation’s citizens.When I gave a lecture in Switzerland last year, I was struck by how expensive everything was there. Yet Switzerland ranks only 20th in total GDP (IMF 2024), well below Indonesia (16th) and Turkey (17th). Surprisingly, Taiwan ranks 22nd, even lower than Switzerland. However, Switzerland ranks 4th in GDP per capita, while Taiwan stands at 37th—significantly lower. When visiting Taiwan, one notices few skyscrapers and even a faint unpleasant odor in city centers. People often assume Taiwan is a wealthy country because of its dominance in semiconductor manufacturing, but its prosperity is relatively recent and shallow.
According to IMF projections for 2025, Luxembourg leads the world in GDP per capita, with about $140,941—far ahead of second-place Ireland at $108,919. Japan, meanwhile, ranks 40th, with about $34,000 per person, falling even below Taiwan. Japan’s seeming affluence is, in fact, the lingering legacy of its 1990s economic heyday. As you know, Japan now shoulders debt amounting to twice its GDP—some ¥1,129 trillion, fueled by continuous government bond issuance. Japan’s apparent prosperity is thus largely sustained by debt, raising concerns for its future stability.
Achievements in academia take years to be recognized, so this year’s Nobel Prizes can also be seen as the fruits of past legacies. In contrast, the outstanding performances of Japanese players in MLB are proof, in real time, of the excellence and perseverance of the Japanese people.
So, what path should Japan choose going forward? These baseball players offer valuable lessons. They reached the pinnacle of the world through relentless self-driven training. Japanese businesspeople, too, should not confine themselves within Japan but strive to succeed globally.
While there is much discussion about bringing foreign workers into Japan, it would be far better for Japanese people themselves to go abroad—to work, to start companies, and to give everything they have. Shohei Ohtani, for example, doesn’t eat hamburgers. So even if a hamburger costs ¥10,000 in Los Angeles, he doesn’t complain.
Today’s politics, however, argue that since prices in Japan are low, raising them will somehow raise wages—a completely misguided notion. The root problem lies in Japan’s low labor productivity. If a worker could serve hamburgers twice as fast, the store’s sales would double, and so could wages. But raising hamburger prices alone doesn’t increase pay—consumers will simply buy less. Moreover, no one wants to eat twice as many hamburgers.
Japan has indulged in too many excuses not to work, hiding behind slogans like “work-style reform” and “work-life balance.” While increasing holidays is fine, discussions should focus on boosting productivity during working hours. Long parental leave is also beneficial and could help raise birth rates—but then, how do we improve the productivity of those who remain to fill the gap?
Full power Price" display at a supermarket in Naruto City(lol)
November 4, 2025
Reflections on Japanese Nobel Laureates and the Remarkable Success of Japanese Players in MLB
