(6) The need to establish a new investment bank
Now that we see what the new society will look like and how the national government will develop the infrastructure, fundraising becomes an issue. That is, how do we raise the funds for developing the national infrastructure and nurturing the private industry?
Basically, we must not use the fiscal system or the market economy system of the 20th century or a financial system that does not meet the principles of LOHAS. One of the reasons many reforms and nation-building endeavors fail is the way funds are raised. That is, a reform or nation-building is highly likely to fail from the beginning, when the will of those who provide the funds and of those who actually carry out the operations are not aligned.
Why did Japan and the world in the 20th century fall into such disorder in the end? One major reason is that the fiscal system and the market economy system, which supported the financial system of the 20th century, became horribly corrupt. Those who coasted on power and vested interests manipulated the distribution of funds arbitrarily to the benefit of specific individuals.
In economics, it is often a subject of dispute whether small government or big government is better. It is also often a subject of controversy whether market economy or non-market economy is better. Actually, that is not the point. Whatever system we may adopt, if the people running the system are corrupt and try to use the system solely to their own advantage, the world will not by any means become a better place.
Hence, in order to build the Great Collaboration society, it will be absolutely essential for the underlying financial system to pay close attention to the [core] values of health and sustainability and, on top of that, the sense of right and wrong.
Unfortunately, the existing fiscal system and market economy system cannot possibly satisfy the needs of building a new nation of the 21st century, because they have become corrupt to the core. That is why we have to establish a new investment bank.
(Date published / 公開日： 8/16/2021)
(Date last updated / 最終改訂日: 8/16/2021)