Arrow two was a fiscal stimulus, which turned into fiscal tightening last spring when the consumption tax went up. Arrow three is structural reforms aimed at boosting long-run growth. Initially, all went well.
The monetary stimulus caused a huge fall in the yen, and combined with public spending at home, the result was above trend growth of 1. Inflation picked up. But in retrospect, last year's sales tax rise came too soon. Wages were still stagnant, so it hammered consumer spending and pushed the economy into recession. With little room for more fiscal stimulus, an export sector hollowed out by years of offshoring to China, and inflation heading back towards zero because of the collapse in oil prices, Japan's economy needs a new source of demand.
The best hope is consumption — which is why wage rises are crucial.
Manufacturing Consent: The Political Economy of the Mass Media
Haruhiko Kuroda, governor of the BoJ, made his expectation clear in a speech to business leaders in December. Wages normally rise when an economy is at full employment. With companies competing for their services, workers can demand more pay. It is much less clear, however, if government pressure can persuade business to raise wages when there is no labor shortage. Wealthy housewives won't play Abe's game.
Yet the government may now be pushing at an open door. Behind the headlines about growth and inflation, Japan's labor market has tightened significantly. The unemployment rate is down to 3. Yasutoshi Nishimura, state minister for economic policy, is bullish. Mr Abe's pressure — from personal lobbying over games of golf to appearances at unlikely industry events such as the Japan Foodservice Association — simply add an extra impetus. Demand will increase, so I think we can expect price rises. Each company negotiates pay with its own union, so managers are free to resist government pressure.
Minoru Usui, president of printer maker Seiko Epson , signaled he was positive about raising base pay this year as the company expects to book a second straight year of record profits. But he said government had nothing to do with it. But some managers do feel an obligation, as well as expecting their businesses to benefit if Abenomics succeeds. Yaskawa Electric is the kind of high-tech manufacturer that still prospers in Japan. It has done well out of Abenomics, with operating profits set to double compared with , helped on their way by a weaker yen.
Junji Tsuda, chairman and president of Yaskawa, says that he will raise basic pay. As a minister in a conservative, business-friendly government, Mr Nishimura is uncomfortable about getting involved in wage negotiations, but thinks the prize of ending deflation makes it worthwhile. Properly, it should be decided between laborand management," he says.
See a Problem?
The economic impact of this year's settlement will depend greatly on the form of pay rises, and how far they spread. Only 18 per cent of Japan's workforce is unionized — about 10 million people — and for the army of contract and part-time workers, parallel talks on the minimum wage, due to conclude in July, will make more of a difference. The effects of the shunto can leak into the broader economy, however, because suppliers at big industrial groups take a lead from their customers. Despite its reputation for brutal cost-cutting, Toyota is dropping demands for lower prices from its mammoth empire of component suppliers.
Analysts say the goal is to let wage increases trickle down to the sector as a whole. Read More Japan data shows Abenomics still struggling. Not all companies are in the same position. A senior executive at one of Japan's largest industrial groups says his company is focused on cash generation, and while it might raise bonuses, there is no chance of hikes in basic pay.
Meanwhile the troubled electronics company Sharp, has agreed a wage freeze this year as it tries to restructure its core business. Then there are domestic companies that, like their workers, have felt little direct benefit from Abenomics.
One of the biggest decisions is whether to raise basic pay or just lift bonuses and allowances. The Rengo union association is calling for a 2 per cent rise in base pay, as well as increases for seniority. The choice will shape the economic impact of the shunto. Mitsumaru Kumagai, chief economist at the Daiwa Institute of Research, says that basic wage rises have a large multiplier effect on consumption, whereas bonuses tend to be saved. Last year's shunto produced pay rises of 2. Taking as its point of departure the definition of power advanced by Bertrand Russell, the ability to impose intended effects, this book explores the intended and unintended consequences of power as deployed by academic, economic, media, military and political elites in the West, particularly North America.
The collection begins with a wide-ranging interview with Noam Chomsky, exploring the deployment of elite power in the post-war period. It also includes interviews with academics and journalists on subjects such as academic freedom, the 'war on terror' and the concept of power.
Of particular interest to British readers are the interview with David Miller and the chapter by David Cromwell. Miller discusses the relative nature of power power operates between people, between people and institutions, and between institutions and the role that ideas and propaganda play in mediating these power relationships. Miller also considers the applicability of Edward Herman and Noam Chomsky's propaganda model to the British media and suggests how their model could form the basis of a wider theory about the role of the media in society. Cromwell focuses upon how environmental non-governmental organisations have unsuccessfully in his view attempted to encourage the mainstream media to properly report global climate change and other pressing social concerns.
He controversially concludes that such an objective is futile, arguing that the mainstream media is the problem and not the solution. Although an interesting and often challenging read, this book would have benefited from an introductory chapter about power and a conclusion to draw together the main points. These would have provided the necessary backbone around which the other chapters could have hung. It would also have benefited from an index and a guide to further reading and activist resources. Nevertheless, this is an important book that deserves to be widely read.
The Political Economy of Media and Power. The Political Economy of Media and Power is an interdisciplinary collection intended to foster critical pedagogy. Contributors cut through media spectacle and make visible the intersections between mass media and the politics of power in Contributors cut through media spectacle and make visible the intersections between mass media and the politics of power in the contemporary social world. Chapters explore ways in which media connect with a broad range of topics and issues, including globalization; war and terrorism; foreign affairs; democracy; governmental relations; the cultural politics of militarization; gender inequality and the sexist saturation of the public sphere; media representations of women; media spin and public relations within the broader context of corporate and ideological power.
Contents: Cees J. Mass media play an especially important role in democratic societies. They are presupposed to act as intermediary vehicles that reflect public opinion, respond to public concerns and make the electorate cognizant of state policies, They are presupposed to act as intermediary vehicles that reflect public opinion, respond to public concerns and make the electorate cognizant of state policies, important events and viewpoints.
The fundamental principles of democracy depend upon the notion of a reasonably informed electorate.
- The Political Economy of the Mass Media.
- Manufacturing Consent: The Political Economy of the Mass Media by Noam Chomsky!
- Serving & Giving: Gateways to Higher Consciousness.
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The model argues that the net result of this is self-censorship without any significant coercion. Media, according to this framework, do not have to be controlled nor does their behavior have to be patterned, as it is assumed that they are integral actors in class warfare, fully integrated into the institutional framework of society, and act in unison with other ideological sectors, i. It is generally excluded from scholarly debates on patterns of media behavior. Highly descriptive in nature, the article is concerned with the question of whether media can be seen to play a hegemonic role in society oriented towards legitimization, political accommodation and ideological management.
European Journal of Communication, , Vol. Reprinted in Jeffery Klaehn ed. The Propaganda Model: theoretical and methodological considerations. The article then advances a contemporary state-of-the-art The article then advances a contemporary state-of-the-art discourse on the methodological techniques that may be utilized in applying the model, highlights potentially complementary approaches to the critical study of mass media behaviour and explores criticisms of the model. Herman and Noam Chomsky , in Manufacturing Consent: The Political Economy of the Mass Media contends that elite media interlock with other institutional sectors in ownership, management and social circles, effectively circumventing their ability to remain analytically detached from other dominant institutional sectors.
The model argues that the net result of this is self-censorship without significant coercion. In replying to several critiques that have been leveled against the propaganda model, this paper seeks to bring the model firmly into the realm of scholarly debate, to dispel various illusions, and, of course, to facilitate and encourage further debate.
I have discussed the work of public relations guru Edward Bernays before. I specifically focused on his book "Propaganda", in which he laid out his initial ideas in the formation of public attitudes, facilitated by a technocratic I specifically focused on his book "Propaganda", in which he laid out his initial ideas in the formation of public attitudes, facilitated by a technocratic elite of manipulation experts. It was in this work that Bernays coined the term "public relations", which drove the perception of his profession away from the negative connotations of the word "propaganda", and its associations with the German effort in the First World War.
He laid out the complex and overlapping relationship between psychology, democracy and corporations, in the vein of a manifesto. His earlier work of , "Crystallizing Public Opinion", was an attempt to give the field of public relations a more scientific credence. The first word of the title could be associated with a process usually affiliated with chemistry and the older, more arcane art of alchemy. It is in this mystical style that Bernays engaged in his treatise.
The publication of the book was preceded by Walter Lippman's heavy tome of , "Public Opinion", released the year before. Bernays and Lippmann served together on the U. Committee on Public Information.
Bernays is reported in Stuart Evan's introduction to have wanted to condense and refine Lippman's criticism of functional democracy more comprehensively, and in a more condensed format fit for wider public consumption. Bernays' work appears to have taken the work of Gustave Le Bon as a source of inspiration, and while many other writers and thinkers are referenced throughout the book, sadly there is no attribution or citing of Le Bon's work on mass psychology. Bernays' prowess as a social engineer is now well known since his death in , largely thanks to popular exposure of his work in Adam Curtis' four part documentary series of "The Century Of Self".
This notoriety was not always so. It was his hidden hand that was behind putting public spin on such events as a coup in Guatemala in , at the behest of the United Fruit Company, as well as his infamous "torches of freedom" publicity stunt of , normalising the social acceptance of women smokers at the behest of the American Tobacco Company. He also played a huge part in popularising the work of his double uncle Sigmund Freud on the North American continent, selling the ideas of Freudian psychoanalysis like a brand.
It was not until a time towards the end of his life when the American public became aware of his influence on shaping many aspects of their lives, and even today he is not exactly a household name. This article is about a documentary film. This section does not cite any sources. Please help improve this section by adding citations to reliable sources. Unsourced material may be challenged and removed.
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Manufacturing Consent revisited
In Understanding Power. The New Press. Noam Chomsky. Bibliography Chomsky hierarchy " Colorless green ideas sleep furiously " Honorary degrees Political positions.