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The Power to Compete: An Economist and an Entrepreneur on Revitalizing Japan in the Global Economy
"If you're as interested in Japan as I am, I think you'll find that The Power to Compete is a smart and thought-provoking look at the future of a fascinating country." - Bill Gates, "5 Books to Read This Summer"
Father and son - entrepreneur and economist - search for Japan's economic cure The Power to Compete tackles the issues central to the prosperity of Japan - and the world - in search of a cure for the "Japan Disease." As founder and CEO of Rakuten, one of the world's largest Internet companies, author Hiroshi Mikitani brings an entrepreneur's perspective to bear on the country's economic stagnation. Through a freewheeling and candid conversation with his economist father, Ryoichi Mikitani, the two examine the issues facing Japan, and explore possible roadmaps to revitalization. How can Japan overhaul its economy, education system, immigration, public infrastructure, and hold its own with China? Their ideas include applying business techniques like Key Performance Indicators to fix the economy, using information technology to cut government bureaucracy, and increasing the number of foreign firms with a head office in Japan. Readers gain rare insight into Japan's future, from both academic and practical perspectives on the inside.
Mikitani argues that Japan's tendency to shun international frameworks and hide from global realities is the root of the problem, while Mikitani Sr.'s background as an international economist puts the issue in perspective for a well-rounded look at today's Japan.
Examine the causes of Japan's endless economic stagnation Discover the current efforts underway to enhance Japan's competitiveness Learn how free market "Abenomics" affected Japan's economy long-term See Japan's issues from the perspective of an entrepreneur and an economist Japan's malaise is seated in a number of economic, business, political, and cultural issues, and this book doesn't shy away from hot topics. More than a discussion of economics, this book is a conversation between father and son as they work through opposing perspectives to help their country find The Power to Compete.
Father and son - entrepreneur and economist - search for Japan's economic cure The Power to Compete tackles the issues central to the prosperity of Japan - and the world - in search of a cure for the "Japan Disease." As founder and CEO of Rakuten, one of the world's largest Internet companies, author Hiroshi Mikitani brings an entrepreneur's perspective to bear on the country's economic stagnation. Through a freewheeling and candid conversation with his economist father, Ryoichi Mikitani, the two examine the issues facing Japan, and explore possible roadmaps to revitalization. How can Japan overhaul its economy, education system, immigration, public infrastructure, and hold its own with China? Their ideas include applying business techniques like Key Performance Indicators to fix the economy, using information technology to cut government bureaucracy, and increasing the number of foreign firms with a head office in Japan. Readers gain rare insight into Japan's future, from both academic and practical perspectives on the inside.
Mikitani argues that Japan's tendency to shun international frameworks and hide from global realities is the root of the problem, while Mikitani Sr.'s background as an international economist puts the issue in perspective for a well-rounded look at today's Japan.
Examine the causes of Japan's endless economic stagnation Discover the current efforts underway to enhance Japan's competitiveness Learn how free market "Abenomics" affected Japan's economy long-term See Japan's issues from the perspective of an entrepreneur and an economist Japan's malaise is seated in a number of economic, business, political, and cultural issues, and this book doesn't shy away from hot topics. More than a discussion of economics, this book is a conversation between father and son as they work through opposing perspectives to help their country find The Power to Compete.
240 pages, Hardcover
First published October 20, 2014
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February 18, 2018
Nước nào cũng có vấn đề của riêng nó. Đối với Nhật Bản thì vấn đề rõ nhất là không-cởi-mở với thế giới và toàn cầu hoá:
- Không nhiều người Nhật học tiếng Anh, tiếng Anh thậm chí không phải là môn bắt buộc ở Nhật.
- Nhật có nhiều chế độ bảo hộ cho các công ty trong nước và các công ty đó luôn có một chuẩn riêng, chuẩn này khác chuẩn thế giới, chính vì thế các công ty Nhật bị lạc lõng với thế giới. Việc này sẽ không xảy ra nếu các công ty Nhật cố gắng biến chuẩn của họ thành chuẩn thế giới nhưng việc này đã không xảy ra.
- Người Nhật không hứng thứ với việc đi du học.
- Nhật có rất nhiều rào cản cho người nước ngoài sống tại đây.
Và còn rất nhiều vấn đề khác và kinh tế, xã hội và giáo dục. Ví dụ:
- Cần xây dựng thương hiệu Nhật Bản, kiểu như made-in-japan một cách chiến lược, tập trung và hiệu quả hơn.
- Nên biến Nhật Bản thành một quốc gia cởi mở với các công ty nước ngoài, ví dụ khi một công ty muốn đặt trụ sở của mình ở Châu Á thì họ sẽ chọn Nhật Bản chứ không phải Singapore như hiện tại. (Bài học cho Việt Nam: chúng ta cũng cần thay đổi đất nước để các doanh nghiệp quốc tế muốn đặt trụ sở ở nước mình.)
- Giáo dục nói chung và giáo dục đại học nói riêng nên theo hướng khai phóng.
Sách được viết theo dạng hội thoại giữa hai cha con. Nếu là dạng podcast có nghe phỏng vấn thật thì có lẽ sẽ hay hơn rất nhiều.
Cảm thấy khi viết sách theo dạng hội thoại thế này thì các quan điểm của người đối thoại phải trái ngược thì sẽ hay và dễ theo dõi hơn. Tuy nhiên hai cha con trong bài thì đa phần có cùng quan điểm nên cuộc nói chuyện không hấp dẫn lắm, và các vấn đề cũng như cách giải quyết đều không được đẩy lên cao trào.
Dù sao thì cũng là một quyển sách đáng đọc vì nó giúp mình biết thêm một vài mặt tối của Nhật Bản.
- Không nhiều người Nhật học tiếng Anh, tiếng Anh thậm chí không phải là môn bắt buộc ở Nhật.
- Nhật có nhiều chế độ bảo hộ cho các công ty trong nước và các công ty đó luôn có một chuẩn riêng, chuẩn này khác chuẩn thế giới, chính vì thế các công ty Nhật bị lạc lõng với thế giới. Việc này sẽ không xảy ra nếu các công ty Nhật cố gắng biến chuẩn của họ thành chuẩn thế giới nhưng việc này đã không xảy ra.
- Người Nhật không hứng thứ với việc đi du học.
- Nhật có rất nhiều rào cản cho người nước ngoài sống tại đây.
Và còn rất nhiều vấn đề khác và kinh tế, xã hội và giáo dục. Ví dụ:
- Cần xây dựng thương hiệu Nhật Bản, kiểu như made-in-japan một cách chiến lược, tập trung và hiệu quả hơn.
- Nên biến Nhật Bản thành một quốc gia cởi mở với các công ty nước ngoài, ví dụ khi một công ty muốn đặt trụ sở của mình ở Châu Á thì họ sẽ chọn Nhật Bản chứ không phải Singapore như hiện tại. (Bài học cho Việt Nam: chúng ta cũng cần thay đổi đất nước để các doanh nghiệp quốc tế muốn đặt trụ sở ở nước mình.)
- Giáo dục nói chung và giáo dục đại học nói riêng nên theo hướng khai phóng.
Sách được viết theo dạng hội thoại giữa hai cha con. Nếu là dạng podcast có nghe phỏng vấn thật thì có lẽ sẽ hay hơn rất nhiều.
Cảm thấy khi viết sách theo dạng hội thoại thế này thì các quan điểm của người đối thoại phải trái ngược thì sẽ hay và dễ theo dõi hơn. Tuy nhiên hai cha con trong bài thì đa phần có cùng quan điểm nên cuộc nói chuyện không hấp dẫn lắm, và các vấn đề cũng như cách giải quyết đều không được đẩy lên cao trào.
Dù sao thì cũng là một quyển sách đáng đọc vì nó giúp mình biết thêm một vài mặt tối của Nhật Bản.
July 11, 2016
(Recommended by Bill Gates)
Why is innovation important? Or why price should stay the same, while we continue to innovate?
Long story short, innovation is the major force of economic growth.
Before the economist Joseph Schumpeter came up with this theory, economists believed that the main driver for economic growth was profit—the excess from profit could be reinvested in scaling up the business or could fund new research. However, profits can be easily destroyed in price wars, where the competition offers the same or a similar product for a better price. As a result, margins become smaller and smaller, i.e., the price comes closer to the production cost, unless you differentiate your product.
At the same time, even in the absence of price wars, an increase in business scale can't alone ensure long-term economic growth because the expansion of the workforce that comes with the increase in scale only means more wages to pay, therefore increasing costs.
What economic growth really needs is an increase in productivity and a continuous improvement of the product, which can only be driven by innovation. Consequently, profit is solely the effect of economic growth, and not at all the cause.
This was my main takeaway from this book, but not the only interesting economic concept put forth by Hiroshi's dialogue with his father, Ryoichi. Other ones where Duessenberry's demonstration and ratchet effects, the Laffer curve of maximizing tax revenue by changing tax levels, etc. Oh, by the way, is bureaucracy necessarily bad? You'll be suprised, maybe, to find out that there are some well paying and very highly performing bureaucracies out there.
Having spent only a couple of weeks in Japan, I had a few intuitions about how isolated the Japanese society is, about how the heyday of Japan is a few decades gone, and how actually it's ironic that they have spaceship toilets, but credit cards don't work almost anywhere and the city of Tokyo is not welcoming at all for disabled people. Just like the many Japanese films I've seen, this book confirmed most of my intuitions. After you know the facts (for example, after you find out about lifetime employment and the lack of women in the workforce), all the proposals in the book become common sense. What took me by surprise was the idea that, in a country like Japan, Rakuten has already been functioning for years with English as the language of work. I wouldn't have deemed it possible, but it's probably speaking well about the success of Rakuten. Also, I am glad to find in the Mikitani family, much bigger supporters of the American economic policy than I am myself.
Last but not least, the point that we shouldn't be terrified by globalization, but, on the contrary, embrace it faster than anyone else becomes utterly important in the current context of Brexit, Trump, and the general geopolitical situation in Western countries. "Globalization doesn't mean losing your nationality," writes Ryoichi in the epilogue. There is no gain in isolating ourselves from an increasingly globalized world. It will catch up with us anyway, and the wave will crush us if we don't learn to ride it in time.
Why is innovation important? Or why price should stay the same, while we continue to innovate?
Long story short, innovation is the major force of economic growth.
Before the economist Joseph Schumpeter came up with this theory, economists believed that the main driver for economic growth was profit—the excess from profit could be reinvested in scaling up the business or could fund new research. However, profits can be easily destroyed in price wars, where the competition offers the same or a similar product for a better price. As a result, margins become smaller and smaller, i.e., the price comes closer to the production cost, unless you differentiate your product.
At the same time, even in the absence of price wars, an increase in business scale can't alone ensure long-term economic growth because the expansion of the workforce that comes with the increase in scale only means more wages to pay, therefore increasing costs.
What economic growth really needs is an increase in productivity and a continuous improvement of the product, which can only be driven by innovation. Consequently, profit is solely the effect of economic growth, and not at all the cause.
This was my main takeaway from this book, but not the only interesting economic concept put forth by Hiroshi's dialogue with his father, Ryoichi. Other ones where Duessenberry's demonstration and ratchet effects, the Laffer curve of maximizing tax revenue by changing tax levels, etc. Oh, by the way, is bureaucracy necessarily bad? You'll be suprised, maybe, to find out that there are some well paying and very highly performing bureaucracies out there.
Having spent only a couple of weeks in Japan, I had a few intuitions about how isolated the Japanese society is, about how the heyday of Japan is a few decades gone, and how actually it's ironic that they have spaceship toilets, but credit cards don't work almost anywhere and the city of Tokyo is not welcoming at all for disabled people. Just like the many Japanese films I've seen, this book confirmed most of my intuitions. After you know the facts (for example, after you find out about lifetime employment and the lack of women in the workforce), all the proposals in the book become common sense. What took me by surprise was the idea that, in a country like Japan, Rakuten has already been functioning for years with English as the language of work. I wouldn't have deemed it possible, but it's probably speaking well about the success of Rakuten. Also, I am glad to find in the Mikitani family, much bigger supporters of the American economic policy than I am myself.
Last but not least, the point that we shouldn't be terrified by globalization, but, on the contrary, embrace it faster than anyone else becomes utterly important in the current context of Brexit, Trump, and the general geopolitical situation in Western countries. "Globalization doesn't mean losing your nationality," writes Ryoichi in the epilogue. There is no gain in isolating ourselves from an increasingly globalized world. It will catch up with us anyway, and the wave will crush us if we don't learn to ride it in time.
May 25, 2016
This book left a lot to be desired given it was on Gates' reading list. Once the main point had been made - Japan's protectionist policies have resulted in it ceding its technological advantages to South Korea and Singapore - the theme was repeated ad infinitum. Although structured as a debate, the conversation between Hiroshi Mikitani, Rakuten's CEO and his economist father ends up with the older man just acquiescing to his son's grandstanding. Apart from making the English language mandatory for all Japanese, which is a Rakuten initiative, there are no new insights into how Japan can regain competitiveness other than opening trade barriers and permitting immigration.
November 14, 2019
Đây là một thể loại sách mà mình rất hiếm khi đọc, cũng như hiếm thấy ở thư viện trường mình- cũng chính vì vậy nên mới mượn về nhà đọc thử xem sao. Sách có cách đặt vấn đề rất hay, tác giả chọn cách truyền tải các thông điệp và bài học Thông qua cuộc hội thoại của cha và con - hai người đều là người am hiểu và kinh nghiệm trong lĩnh vực kinh tế của Nhật Bản. Một số vấn đề mình hiểu, một số thì không, nhưng mà sách cung cấp nhiều thông tin rất thú vị và rất Nhật Bản. Hoá ra người Nhật bản cũng biết rằng chính mình đang cô lập mình với phần còn lại của thế giới bằng nhiều cách, một Đất nước Galápagos từ việc hạn chế thi thực cho ng nc ngoài, lao động nước ngoài, các sản phẩm công nghệ theo chuẩn của người Nhật chứ Ko phải chuẩn toàn cầu và một đất nước không thích nói tiếng Anh. Khi đọc mới thấy những mặt tối của nước Nhật mà chả mấy khi truyền thông đề cập đến, như chế độ thuê lao động trọn đời, một nền giáo dục đã quá tuổi thọ và việc quá khép kín với những cái mới.
May 24, 2018
Rất đáng đọc, mặc dù có nhiều vấn đề kén người đọc, cần một trình độ nhất định trong lĩnh vực quản lý vĩ mô. Cuộc đối thoại của hai cha con thể hiện vốn tri thức khá đồ sộ của mỗi người: một là về quản lý và hai là về kinh tế, cả hai lĩnh vực được tập hợp lại và rút ra một số hướng đi chiến lược cho việc phát triển đất nước. Một số bài học hoàn toàn có thể áp dụng ở Việt Nam chẳng hạn như việc xây dựng thương hiệu cho đất nước, khuyến khích đầu tư cũng như nhâp cư nước ngoài,…
September 30, 2016
A fresh perspective at my home town where I was born.
I enjoyed the book. It is very fun to learn about 2 very qualified people from different times ( old & new ) looking at key economic topics about Japan. It is also very interesting, how much the two agree with each other.
I'm going to quote the review from Gates Notes here as it is what drew me to the book, and I hope it does the same for you.
Link: https://www.gatesnotes.com/Books/The-...
.....Of course Japan is also intensely interesting to anyone who follows global economics. In the 1980s, it was a juggernaut. Countless books and articles touted the effectiveness of Japan’s state-controlled capital and the businesses where employees would sing the company song every morning. There was serious discussion about whether America needed higher tariffs to challenge Japan.
That is not the case today. Many of Japan’s companies have been eclipsed by competitors in South Korea and China. Samsung, based in Seoul, is worth more than all Japanese consumer electronics companies combined. And the economy has experienced deflation—a downturn that many economists once thought was limited to Japan, but now seems to be more global. So what happens in Japan matters a lot to the rest of the world.
How did Japan lose its way? Can it come back?
There is no shortage of books wrestling with these questions. One that I read recently and found super-interesting is The Power to Compete: An Economist and an Entrepreneur on Revitalizing Japan in the Global Economy, by the father-and-son team Ryoichi Mikitani and Hiroshi Mikitani. It is a series of dialogues between Hiroshi—founder of the Internet company Rakuten—and his father, Ryoichi, a respected economist and author. (Ryoichi Mikitani died in 2013.)
A while back I spent a day with Hiroshi and found him to be a bright, engaging guy. I gather that he is viewed as something of a maverick in Japan. In The Power to Compete he lays out a five-point plan for revitalizing Japan’s economy, which includes relaxing regulations on business, encouraging innovation, engaging more globally, and building up the “Made in Japan” brand.
The book is a quick read at just over 200 pages. Although I don’t agree with everything in Hiroshi’s program, I think he has a number of good ideas. He talks about bringing more women into the workforce and encouraging more people to learn and use English. And I would love to see Japanese companies become more innovative—not just because it will make them more competitive, but because the whole world benefits from great ideas and technologies, whoever invents them.
Ultimately, I am bullish on Japan. It is still a wealthy country. It has come back from much worse circumstances, as any student of World War II knows. The quality of life there is high, and its education system is strong (although Ryoichi Mikitani argues that it should spend more on schools). The country is unlikely to emerge as the singular leader it was in the 1980s, but its future is still quite bright.
If you’re as interested in Japan as I am, I think you’ll find that The Power to Compete is a smart and thought-provoking look at the future of a fascinating country
I enjoyed the book. It is very fun to learn about 2 very qualified people from different times ( old & new ) looking at key economic topics about Japan. It is also very interesting, how much the two agree with each other.
I'm going to quote the review from Gates Notes here as it is what drew me to the book, and I hope it does the same for you.
Link: https://www.gatesnotes.com/Books/The-...
.....Of course Japan is also intensely interesting to anyone who follows global economics. In the 1980s, it was a juggernaut. Countless books and articles touted the effectiveness of Japan’s state-controlled capital and the businesses where employees would sing the company song every morning. There was serious discussion about whether America needed higher tariffs to challenge Japan.
That is not the case today. Many of Japan’s companies have been eclipsed by competitors in South Korea and China. Samsung, based in Seoul, is worth more than all Japanese consumer electronics companies combined. And the economy has experienced deflation—a downturn that many economists once thought was limited to Japan, but now seems to be more global. So what happens in Japan matters a lot to the rest of the world.
How did Japan lose its way? Can it come back?
There is no shortage of books wrestling with these questions. One that I read recently and found super-interesting is The Power to Compete: An Economist and an Entrepreneur on Revitalizing Japan in the Global Economy, by the father-and-son team Ryoichi Mikitani and Hiroshi Mikitani. It is a series of dialogues between Hiroshi—founder of the Internet company Rakuten—and his father, Ryoichi, a respected economist and author. (Ryoichi Mikitani died in 2013.)
A while back I spent a day with Hiroshi and found him to be a bright, engaging guy. I gather that he is viewed as something of a maverick in Japan. In The Power to Compete he lays out a five-point plan for revitalizing Japan’s economy, which includes relaxing regulations on business, encouraging innovation, engaging more globally, and building up the “Made in Japan” brand.
The book is a quick read at just over 200 pages. Although I don’t agree with everything in Hiroshi’s program, I think he has a number of good ideas. He talks about bringing more women into the workforce and encouraging more people to learn and use English. And I would love to see Japanese companies become more innovative—not just because it will make them more competitive, but because the whole world benefits from great ideas and technologies, whoever invents them.
Ultimately, I am bullish on Japan. It is still a wealthy country. It has come back from much worse circumstances, as any student of World War II knows. The quality of life there is high, and its education system is strong (although Ryoichi Mikitani argues that it should spend more on schools). The country is unlikely to emerge as the singular leader it was in the 1980s, but its future is still quite bright.
If you’re as interested in Japan as I am, I think you’ll find that The Power to Compete is a smart and thought-provoking look at the future of a fascinating country
May 7, 2017
After traveling around Asia as a business consultant, I was curious to learn more about how Japan is setting itself up for future success.
Despite being the 4th largest economy in the world and topping the charts for standard of living... Japan doesn't get much Western recognition these days.
This book attempts to explain parts of that and create a plan for Japan to become innovative again.
Hiroshi makes some amazing points but sandwiches it between a lot of complaining about certain Japanese systems without diving into too much detail. Some areas he does dive deep into and present a solution, but other areas he doesn't seem to address after posing the problem.
I also found a lot of the economic theory contained in the book to be superfluous and it made the middle portion hard to get through. I realize his father is an economist but a lot of it was simple concepts that seemed really dumbed down over 10-15 pages for the reader.
Main takeaways:
- Japanese labor system is tied to the concept of a lifelong salaryman and that leads to businesses that can't be allowed to fail lest a lot of people are put on the streets
- TOEFL should be required for Japanese students in order to increase English comprehension as well as encourage them to attend international schools and gain a more global perspective
- So many parts of Japanese bureaucracy are rooted in the past: farmers votes count more than city dwellers, impossible to fire people, no distinction between blue collar and white collar means white collar creativity and innovation is stifled
- Japan needs to embrace foreigners and work on exporting its brand globally
Despite being the 4th largest economy in the world and topping the charts for standard of living... Japan doesn't get much Western recognition these days.
This book attempts to explain parts of that and create a plan for Japan to become innovative again.
Hiroshi makes some amazing points but sandwiches it between a lot of complaining about certain Japanese systems without diving into too much detail. Some areas he does dive deep into and present a solution, but other areas he doesn't seem to address after posing the problem.
I also found a lot of the economic theory contained in the book to be superfluous and it made the middle portion hard to get through. I realize his father is an economist but a lot of it was simple concepts that seemed really dumbed down over 10-15 pages for the reader.
Main takeaways:
- Japanese labor system is tied to the concept of a lifelong salaryman and that leads to businesses that can't be allowed to fail lest a lot of people are put on the streets
- TOEFL should be required for Japanese students in order to increase English comprehension as well as encourage them to attend international schools and gain a more global perspective
- So many parts of Japanese bureaucracy are rooted in the past: farmers votes count more than city dwellers, impossible to fire people, no distinction between blue collar and white collar means white collar creativity and innovation is stifled
- Japan needs to embrace foreigners and work on exporting its brand globally
September 1, 2018
The Power to Compete is a great insight into the Japanese economy. The book is presented as a conversation between Hiroshi and Ryoichi Mikitani, thus making it an engaging read. The authors contest the past policies of Japanese policymakers for contributing to Japan's "extremely in-efficient" economy and labour market. They convincingly shed light into why Japan is lagging behind South-Korea, China and Singapore in economic growth. Even as the authors have negative outlook on the current status quo in Japan, they believe that Japan will prosper if it could leverage on its abundant cultural gifts to create an open economy. To this extent, the authors propose specific policy shifts that may help the Japan economy grow. In summary, the hard-truths nature of the book and the general introspection by the authors on their country makes it a good read for anyone keen to understand the macro-issues facing the Japanese economy.
March 1, 2018
Mikitani-san has lots of interesting ideas and a big ego, which is partly why he's been so successful. Overall an interesting read with some very good ideas and some mislead by bias. Would recommend to those who have lived and worked in Japan as the details from behind-the-scenes meetings with government were particularly informative.
Did end on a sad note though (not purposefully) with his dad saying what a joy it was to be able to have spent time with his son through these discussions. That along with the awkward exchange where Mikitani-san mentioned some award he received from a foreign dignitary some years ago to his dad exclaiming that was fantastic and they should go celebrate showed the type of familial relations he has maintained and made me want to be a better son and communicate more with my own family.
Did end on a sad note though (not purposefully) with his dad saying what a joy it was to be able to have spent time with his son through these discussions. That along with the awkward exchange where Mikitani-san mentioned some award he received from a foreign dignitary some years ago to his dad exclaiming that was fantastic and they should go celebrate showed the type of familial relations he has maintained and made me want to be a better son and communicate more with my own family.
July 19, 2019
This book may be interesting for people who “don’t know much” about economics and want to know about the problem of the economy of Japan.
The book is also written in a non-standard way: it is presented in the form of conversations between the two authors instead of the normally writing style. While this style is often used in buddhist and some philosophy books, this is the first time that I see this style in a modern topic like economics.
For someone who are not really in economics, the book provides a nice view about the economy of Japan, its problems, some potential solutions and economic insight behind them. However, for someone who are already in the field, the book does not provide any new insight, not even a synthesis or review of what we know. Clearly this book aims for a broad audience, particularly Japanese as a call for reform of their economy.
The book is also written in a non-standard way: it is presented in the form of conversations between the two authors instead of the normally writing style. While this style is often used in buddhist and some philosophy books, this is the first time that I see this style in a modern topic like economics.
For someone who are not really in economics, the book provides a nice view about the economy of Japan, its problems, some potential solutions and economic insight behind them. However, for someone who are already in the field, the book does not provide any new insight, not even a synthesis or review of what we know. Clearly this book aims for a broad audience, particularly Japanese as a call for reform of their economy.
December 2, 2022
I was hoping this book would answer: why has the Japanese economy stagnated since their asset bubble collapse of 1991? This stagnation is obvious if you visit the country. Despite once leading the world in hardware (with ex. high-speed rail and high-definition televisions), Japan's totally missed the software revolution (with prolific use of cash everywhere). Especially in comparison to neighboring South Korea, Singapore, and Taiwan, the country is failing to foster innovative tech companies competitive on the global scale.
This book did not answer any of these questions. The most interesting thing I learned was that nearly all elite sumo wrestlers are not ethnically Japanese, but in fact Mongolian. Honestly pretty surprising, but not what I was looking for.
It's structured as a conversation between Hiroshi Mikitani (founder of Rakuten) and his father Ryoichi Mikitani (economics professor at Kobe University). The two of them basically go on to espouse typical libertarian views common in tech circles for the entirety of the book. I found myself disagreeing with some of their opinions and nodding along with others, but mostly I found myself bored with their supposedly-radical proposals.
Examples:
- Technology: enter the 21st century rather than relying on pencil and paper.
- Teaching: make English mandatory, promote a liberal arts education, encourage globalization.
- Workplace: promote on merit rather than tenure, fire underperforms, hire foreigners, issue stock.
- Economics: make Keynesian-style infrastructure investments while targeting mild inflation.
- Government: reduce size of public sector, cut taxes and budgets.
This book did not answer any of these questions. The most interesting thing I learned was that nearly all elite sumo wrestlers are not ethnically Japanese, but in fact Mongolian. Honestly pretty surprising, but not what I was looking for.
It's structured as a conversation between Hiroshi Mikitani (founder of Rakuten) and his father Ryoichi Mikitani (economics professor at Kobe University). The two of them basically go on to espouse typical libertarian views common in tech circles for the entirety of the book. I found myself disagreeing with some of their opinions and nodding along with others, but mostly I found myself bored with their supposedly-radical proposals.
Examples:
- Technology: enter the 21st century rather than relying on pencil and paper.
- Teaching: make English mandatory, promote a liberal arts education, encourage globalization.
- Workplace: promote on merit rather than tenure, fire underperforms, hire foreigners, issue stock.
- Economics: make Keynesian-style infrastructure investments while targeting mild inflation.
- Government: reduce size of public sector, cut taxes and budgets.
May 19, 2017
Some good insights on the structure of some Japanese industries but:
- IT everywhere
- English everywhere (even though they recognise the level in nearby Asia is low and not that much a lingual Franca)
- I don't think they understand why people are interested in Japan. At all.
- on the biographical aspects of it, it's like the worst ever script ever written. I have seen distrustful strangers speak more warmly together.
- IT everywhere
- English everywhere (even though they recognise the level in nearby Asia is low and not that much a lingual Franca)
- I don't think they understand why people are interested in Japan. At all.
- on the biographical aspects of it, it's like the worst ever script ever written. I have seen distrustful strangers speak more warmly together.
June 10, 2017
Around 200 pages, easy reading. Organized into dialogues between Mikitani, founder of Rakuten, and his late father, an economist. The pairs give their perspectives on how Japan becomes super power country in the world, its problems now and how their country should move forward to adapt new global economy.
Asides from economic, the book give some interesting thing about Japan and its corporations. Worth to read.
Asides from economic, the book give some interesting thing about Japan and its corporations. Worth to read.
September 9, 2017
It's embarrassing for Japanese people to boast the uniqueness of "Japan, Japan, Japan", when in fact the problems are common throughout the world. Mikitani Hiroshi goes in talking about Japan branding. The branding is a byproduct of great products, and the Japan branding was established by great 20th companies like Toyota, Sony, Nintendo, etc. How much did his company Rakuten contribute to this branding? Zero. Work on your own company before criticizing the system.
July 17, 2018
I really like the ideas how to make Japan more competitive, the adoption of English language more broadly is exactly one of those. The discussion about Japanese economy gives you the insides of how typical Japanese companies and society as a whole conceive and do business, which in turn affects the shaping of fiscal & monetary policies. It's really interesting when comparing the Japanese mindset with other countries', as told by a globalized Japanese person.
April 22, 2019
Majority of the ideas presented in the book are rather insightful and it is certainly worth a read. However, the problem is that the book actually gets repetitive on points which have already been raised earlier into the book.
Of course, not all ideas raised are good but that's fine. Key is the message may easily get lost due to the poor way the book was written.
Of course, not all ideas raised are good but that's fine. Key is the message may easily get lost due to the poor way the book was written.
August 10, 2017
Like a conversation between a dad and a son. like a conversation between a professor (Yale University, United States and Kobe University, Japan) and a billionaire (CEO of Rakuten). I like how close of their family.
August 14, 2018
Power of export
An insight into the culture of teamwork and optimism that drives Japanese innovation and exports. Quick read and enjoyable conversation. If they were recounting all those statistics from memory in conversation color me impressed.
An insight into the culture of teamwork and optimism that drives Japanese innovation and exports. Quick read and enjoyable conversation. If they were recounting all those statistics from memory in conversation color me impressed.
December 15, 2018
An insight into the culture of teamwork and optimism that drives Japanese innovation and exports. Quick read and enjoyable conversation. If they were recounting all those statistics from memory in conversation color me impressed.
May 15, 2020
The authors provide few general information on Japan political and ecomonic situation but any supporting data. It's just a conversation between the authors in which their competence and knowledge are not really expressed. A great disappointment
September 29, 2020
I thoroughly enjoyed this book and the way it is set out, you actually feel like part of the conversation between Hiroshi and Ryoichi.
This book gave me a great view on the economic sector and how to succeed in life.
This book gave me a great view on the economic sector and how to succeed in life.
December 7, 2017
Bill Gates said you should read this book. He was right.
As a student of economics, I found that book quite insightful.
As a student of economics, I found that book quite insightful.
September 14, 2018
Macro thought.
January 26, 2019
This was a freebie from work. I thought the combination of appeal to cultural influence and hard investments in infrastructure and education was sensible.
August 3, 2021
It's a good book. Although the book is mainly based in Japan, some of the principles are applicable.
September 19, 2021
This book helped me understand how Japan overcome difficulties to revive to this day.
December 4, 2016
"Diskusi mengesankan perihal upaya membangkitkan Jepang dalam kancah dunia"
Buku ini merupakan transkrip diskusi antara sang CEO "Rakuten" Hiroshi Mikitani dan sang ayah, Ryoichi Mikitani profesor ekonomi kenamaan.
The Power to Compete saya beli karena masuk dalam reading list Bill Gates tahun ini. Di blognya, Gates bilang buku ini cukup cepat dibaca (ya, karena 200-an halaman saja). Namun saya butuh waktu yang tidak singkat untuk menyelesaikannya (Maklumlah).
Sebenarnya pembahasan yang disajikan dari diskusi kedua tokoh ini cenderung berat. Iya benar, mereka membahas serangkaian grand design bagaimana membangun lagi kejayaan Jepang seperti yang sudah-sudah. Di mana Jepang menjadi salah satu motor penggerak dunia. Sony Walkman, masih ingat kan. Nah itu produk terakhir yang disebut-sebut punya dampak luar biasa bagi banyak orang.
Sekarang di mata banyak kalangan, merk teknologi kekinian adalah Samsung, Apple, dan teman-temannya.
Hal-hal yang mengejutkan
Saat membaca buku ini, saya sedikit terkejut melihat arah pembicaraan mereka berdua. Di satu sisi, saya melihat Jepang dengan citra yang begitu positif. Pemerintahan yang keren, pendidikan yang berjalan ok, dan perkembangan IT yang bagus di sana. Kedua tokoh ini mengungkapkan bahwa Jepang (saat itu) terkungkung oleh apa yang disebut dengan Efek Galapagos.
Galapagos sendiri merupakan istilah awam bagi orang biologi. Merujuk pada teori yang dirujuk oleh Darwin. Salah satu contoh yang disebut adalah keinginan produsen TV untuk mengiklankan TV pintar diblok oleh stasiun televisi. Mereka berkilah nanti viewers akan menurun dan masyarakat beralih mengonsumsi tayangan on demand ala netflix.
Belum berhenti sampai disitu. Mereka terus berbincang soal bagaimana membuat Jepang dapat kompetitif di kancah global. Diskusi ini juga menyorot kaum birokrat yang memiliki tendensi untuk mempertahankan "kursi". Masing-masing program teknis dikuasai oleh kementrian.
Selain itu ada beberapa hal yang membuka pemikiran saya. Pertama penggunaan IT sebagai leverage. Memang ini bagaikan pisau bermata dua. Di satu sisi pemangkasan tenaga juga bakal menimbulkan efek yang tidak mudah dihadapi. Di satu sisi penggunaan IT bisa memberi multiplier effect yang cukup signifikan. Hal kedua tentang pengembangan SDM. Perihal edukasi. Baik dari sisi pengajar. Maupun orang tua. Memang seperti yang saya bilang diatas, diskusinya cenderung berputar pada istilah ekonomi, efisiensi, dsb. Namun di bab-bab tertentu diskusi bapak anak ini sangat egaliter. Diselingi candaan-candaan ringan, buku ini menjauhkan diri dari kesan buku "berat". Hiroshi menghabiskan sebagian besar waktunya di klub tenis saat kuliah. Kuliah cenderung membosankan, katanya. Lakukan dan tekuni apa yang paling kamu nikmati. Ketiga adalah membuka paradigma open minded. Tidak anti asing.
Buku ini adalah salah satu buku yang berkesan bagi saya di tahun 2016. Selain buku-buku biografi tokoh sukses lain seperti pak Mochtar Riyadi, Andy Noya, dan Ben Anderson.
Saya merekomendasikan buku-buku tersebut masuk dalam koleksi perpustakaan pribadi Anda. Salam buku itu seru.
Buku ini merupakan transkrip diskusi antara sang CEO "Rakuten" Hiroshi Mikitani dan sang ayah, Ryoichi Mikitani profesor ekonomi kenamaan.
The Power to Compete saya beli karena masuk dalam reading list Bill Gates tahun ini. Di blognya, Gates bilang buku ini cukup cepat dibaca (ya, karena 200-an halaman saja). Namun saya butuh waktu yang tidak singkat untuk menyelesaikannya (Maklumlah).
Sebenarnya pembahasan yang disajikan dari diskusi kedua tokoh ini cenderung berat. Iya benar, mereka membahas serangkaian grand design bagaimana membangun lagi kejayaan Jepang seperti yang sudah-sudah. Di mana Jepang menjadi salah satu motor penggerak dunia. Sony Walkman, masih ingat kan. Nah itu produk terakhir yang disebut-sebut punya dampak luar biasa bagi banyak orang.
Sekarang di mata banyak kalangan, merk teknologi kekinian adalah Samsung, Apple, dan teman-temannya.
Hal-hal yang mengejutkan
Saat membaca buku ini, saya sedikit terkejut melihat arah pembicaraan mereka berdua. Di satu sisi, saya melihat Jepang dengan citra yang begitu positif. Pemerintahan yang keren, pendidikan yang berjalan ok, dan perkembangan IT yang bagus di sana. Kedua tokoh ini mengungkapkan bahwa Jepang (saat itu) terkungkung oleh apa yang disebut dengan Efek Galapagos.
Galapagos sendiri merupakan istilah awam bagi orang biologi. Merujuk pada teori yang dirujuk oleh Darwin. Salah satu contoh yang disebut adalah keinginan produsen TV untuk mengiklankan TV pintar diblok oleh stasiun televisi. Mereka berkilah nanti viewers akan menurun dan masyarakat beralih mengonsumsi tayangan on demand ala netflix.
Belum berhenti sampai disitu. Mereka terus berbincang soal bagaimana membuat Jepang dapat kompetitif di kancah global. Diskusi ini juga menyorot kaum birokrat yang memiliki tendensi untuk mempertahankan "kursi". Masing-masing program teknis dikuasai oleh kementrian.
Selain itu ada beberapa hal yang membuka pemikiran saya. Pertama penggunaan IT sebagai leverage. Memang ini bagaikan pisau bermata dua. Di satu sisi pemangkasan tenaga juga bakal menimbulkan efek yang tidak mudah dihadapi. Di satu sisi penggunaan IT bisa memberi multiplier effect yang cukup signifikan. Hal kedua tentang pengembangan SDM. Perihal edukasi. Baik dari sisi pengajar. Maupun orang tua. Memang seperti yang saya bilang diatas, diskusinya cenderung berputar pada istilah ekonomi, efisiensi, dsb. Namun di bab-bab tertentu diskusi bapak anak ini sangat egaliter. Diselingi candaan-candaan ringan, buku ini menjauhkan diri dari kesan buku "berat". Hiroshi menghabiskan sebagian besar waktunya di klub tenis saat kuliah. Kuliah cenderung membosankan, katanya. Lakukan dan tekuni apa yang paling kamu nikmati. Ketiga adalah membuka paradigma open minded. Tidak anti asing.
Buku ini adalah salah satu buku yang berkesan bagi saya di tahun 2016. Selain buku-buku biografi tokoh sukses lain seperti pak Mochtar Riyadi, Andy Noya, dan Ben Anderson.
Saya merekomendasikan buku-buku tersebut masuk dalam koleksi perpustakaan pribadi Anda. Salam buku itu seru.
December 28, 2016
The Power to Compete: An Economist and an Entrepreneur on Revitalizing Japan in the Global Economy by Hiroshi Mikitani is an interesting take on discussing the political, economic, social and the overall state of Japan in this modern world. The book uses discussion between father and son to which keeps the reader engaged rather than just reading some facts. After reading this book I learned a lot of things about how various factors needs to be considered while making government policies. It was a bit of a shock to realize that Japanese people are not yet connected with rest of the world and the government is being overprotective. Japanese companies have proven their competitiveness in the past and still continue to certain extent in some sectors but have seen some decline in the previous years.
Most of the concepts discussed here are also applicable to other developing countries and I think governments in many countries (or at least in response to public opinion) are liberalizing trade, reducing or eliminating subsidies and encouraging competition around the world. The book covers various topics like economic effects, branding, tourism, widespread use of IT, open trading standards, encouraging global involvement in various sectors, creating hospitable environment for foreign nationals, and globalization in general to change to scenario of Japan. As mentioned in the book I do believe people of Japan are intelligent, hardworking, ethical and have the capacity to compete in this world. I hope that the government of Japan (not just the current one but all the successive ones to follow) follow some or most of the ideas mentioned in this book and not stifle innovation, creativity, productivity of Japanese people.
I also hope that many people in Japan wake up after reading this book and fight for their own betterment, as the whole world would benefit from their contribution.
Most of the concepts discussed here are also applicable to other developing countries and I think governments in many countries (or at least in response to public opinion) are liberalizing trade, reducing or eliminating subsidies and encouraging competition around the world. The book covers various topics like economic effects, branding, tourism, widespread use of IT, open trading standards, encouraging global involvement in various sectors, creating hospitable environment for foreign nationals, and globalization in general to change to scenario of Japan. As mentioned in the book I do believe people of Japan are intelligent, hardworking, ethical and have the capacity to compete in this world. I hope that the government of Japan (not just the current one but all the successive ones to follow) follow some or most of the ideas mentioned in this book and not stifle innovation, creativity, productivity of Japanese people.
I also hope that many people in Japan wake up after reading this book and fight for their own betterment, as the whole world would benefit from their contribution.
September 23, 2016
Not a big fan of the scattered dialog format, but this was a good introduction to the various systemic problems in Japan that prevent it from competing on the world stage in the 21st century.
June 15, 2015
Japan post war economic growth was a miracle with almost two decades of unprecedented growth no other countries achieved within such a short time. There was a time, Japanese products were world leaders. Today their counterpart South Korea has overtaken them in technology like Samsung iPhone. I have been puzzled why since the asset bubble burst in In the 90' Japan seem to suffer a lost decade and unable to adapt to the changes in globalisation. The conversation between the two, an economist and an entrepreneur on revitalising Japan in the global was very educational in assessing the reality of the obstacles Japan face in its challenges in adapting to the changes of globalisation. It addressed the challenges of the bureaucrat led political economy , the immigration problems, the educational system and the ageing population. The author presented ideas of how reform could be harnessed from their history and culture to compete with a competitive edge.
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