English Language · Reading Comprehension
Which shared underlying mechanism draws a direct structural parallel between the collapse of 'shushin koyo' (lifetime employment) in 1990s Japan and the contemporary economic situation in the West?
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- 1Both periods were marked by a shift towards universal, free-market principles that eliminated all forms of social welfare and protection.
- 2Both were triggered by the bursting of speculative asset bubbles that led to rapid, widespread deflation across all consumer markets.
- 3The government response in both regions consistently prioritized austerity measures and debt avoidance over stimulating high-wage, full-time job growth for younger workers.
- 4In both cases, high-stakes commitment to the expected future (marriage, mortgage) was rendered economically irrational by income stagnation combined with prohibitive costs for essential assets.✓
Correct answer
In both cases, high-stakes commitment to the expected future (marriage, mortgage) was rendered economically irrational by income stagnation combined with prohibitive costs for essential assets.
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