Regulations kill innovations
The Financial Times recently discussed the skyrocketing amount of debts by rich countries and possible defaulting. It also reported that investors are now encouraged to use the derivatives market to bet on the chance of rich governments defaulting on bonds. Earlier the Economist also featured the growing public debts due mostly to rescue operations about global economic crises.
According to the FT, Japan's total public debt is forecast to rise to almost a double size (199.8%) of GDP in 2010. The Economist already see the amount surpassing 200% (shown above). The figure itself is the largest and most conspicuous among other industrialised and emerging economies. The probability of actual defaulting is said to remain still low, as most of its debt is financed domestically within Japan. Yet the condition would end up leading to a hyper inflation. I am also afraid that a finanical crisis of Japan would have negative and tremendous impacts upon the global economy.
As I repeatedly argued in previous entries of this blog, Japan's one of the most urgent and significant issues is to re-balance its economy. The government currently aims to spend more money by debt, or presses the Bank of Japan to print more money. Yet such emergency, makeshift measures do not necessarily solve the problem, for the core problem of Japanese economy stems not from global financial crises, but from its very low productivities.
I also attribute the problem to a large number of (unnecessary) regulations or excessive interventions by the state, which as a result impede positive incentives on parts of private sectors and households. Regulations kill innovations!
According to the FT, Japan's total public debt is forecast to rise to almost a double size (199.8%) of GDP in 2010. The Economist already see the amount surpassing 200% (shown above). The figure itself is the largest and most conspicuous among other industrialised and emerging economies. The probability of actual defaulting is said to remain still low, as most of its debt is financed domestically within Japan. Yet the condition would end up leading to a hyper inflation. I am also afraid that a finanical crisis of Japan would have negative and tremendous impacts upon the global economy.
As I repeatedly argued in previous entries of this blog, Japan's one of the most urgent and significant issues is to re-balance its economy. The government currently aims to spend more money by debt, or presses the Bank of Japan to print more money. Yet such emergency, makeshift measures do not necessarily solve the problem, for the core problem of Japanese economy stems not from global financial crises, but from its very low productivities.
I also attribute the problem to a large number of (unnecessary) regulations or excessive interventions by the state, which as a result impede positive incentives on parts of private sectors and households. Regulations kill innovations!
Sunday no longer holiday
I'm glad to hear that the Finnish Parliament, after 13 year-long debate, finally passed the legislation this week allowing bigger size stores to remain open on Sundays all around the year. I had long been supportive for removal of such a "holiday clause" limiting free economic activities. As a customer I am also happy to be able to make more a flexible schedule on shopping.
Unlike those who opposed the move, I do not think that the reform would lead to erode the traditional Finnish lifestyles. More and more people no longer take for granted that Sunday is a holy-day. Or they would like to spend holidays doing something actively, instead of staying at home, calm.
Please make no mistake, I never deny the utility of holiday itself. The point is that such rest days don't have to be fixed on Sunday. For instance in Japan, many department stores are closed in other days than weekend. So is true for public libraries (usually closed on Monday). Crowded conditions (at risk of swine flu!) or waiting in a long queue can also be avoided. Above all, let's think a bit more about what really means by customer services. A flexible day-off makes people's lifestyle more efficient and satisfactory.
Unlike those who opposed the move, I do not think that the reform would lead to erode the traditional Finnish lifestyles. More and more people no longer take for granted that Sunday is a holy-day. Or they would like to spend holidays doing something actively, instead of staying at home, calm.
Please make no mistake, I never deny the utility of holiday itself. The point is that such rest days don't have to be fixed on Sunday. For instance in Japan, many department stores are closed in other days than weekend. So is true for public libraries (usually closed on Monday). Crowded conditions (at risk of swine flu!) or waiting in a long queue can also be avoided. Above all, let's think a bit more about what really means by customer services. A flexible day-off makes people's lifestyle more efficient and satisfactory.
Infopankki: Reaching out newcomers to Finnish community
Infopankki is a Finnish multilingual web portal targeting immigrants or other international groups of people living in Finland. It also aims at overseas online users who seek for any local information addressed in several languages.
On Tuesday along with a number of local media guys I attended the press conference in the form of a lunch meeting hosted by Infopankki staff. They introduced the representatives of the User’s Panel whose main task is to further develop this online multilingual service. They intend to share practical support as well as tips with those who have lived or are to join in the Finnish community, so that their sociocultural adaptation processes would go smoothly. Some of them are also of the opinion that the project forms awareness campaigns particularly on the part of host Finnish people, enhancing mutual understanding.
Infopankki is so far available in 15 languages, and a few more will be added. The five-year project is funded by the state and municipality. According to the project staff, about 191,000 immigrants live in Finland, and 65,000 online users check Infopankki per month.
In my view, the Panel representatives are amazingly well-selected. They appear to be highly diverse in terms of nationality, sex, age, education, and other sociocultural backgrounds. In the meeting each was also treated equally and democratically, having chances to address their views. It was a great operational tactic to contact and involve outsiders (just like me) at the beginning stage. I believe that “non-digital” campaigns are still significant to promote some digital services.
I might suggest that the Panel representative go further public by discussing own personal experiences or viewpoints in various issues. A blog or journals attached to the portal can be a good tool of communication. If I were this sort of project manager, I would try to make them idols or celebrities. The Panel representatives better become “worthwhile” for public news, instead of just awaiting or collecting any updates provided by someone else.
On the other hands, the project would better clarify and focus upon its primary target groups, at least in the beginning phase. A catch-all strategy is tedious and likely to reduce its original competitiveness.
Finally I encourage the project to form a “coalition of the willing” with similar ongoing projects or initiatives. It seems to me that relations among immigrants in Finland remain too loose even disunited, although they are strongly tied to their ethnic/co-national communities cooperating only with its community members. They are active in dealing with various issues in interethnic relations, namely between immigrants and mainstream Finns. Yet active cooperation among immigrant groups is sometimes more complicated and dormat. I expect Infopankki to become able to play a cross-cultural agent coordinating non-Finnish residents of different backgrounds.
Overall, the news conference seemed successful. The project however has just begun in a new phase, and I would like to wait and see how they fulfill their objectives.
User's Panel representatives
Infopankki: http://www.infopankki.fi
On Tuesday along with a number of local media guys I attended the press conference in the form of a lunch meeting hosted by Infopankki staff. They introduced the representatives of the User’s Panel whose main task is to further develop this online multilingual service. They intend to share practical support as well as tips with those who have lived or are to join in the Finnish community, so that their sociocultural adaptation processes would go smoothly. Some of them are also of the opinion that the project forms awareness campaigns particularly on the part of host Finnish people, enhancing mutual understanding.
Infopankki is so far available in 15 languages, and a few more will be added. The five-year project is funded by the state and municipality. According to the project staff, about 191,000 immigrants live in Finland, and 65,000 online users check Infopankki per month.
In my view, the Panel representatives are amazingly well-selected. They appear to be highly diverse in terms of nationality, sex, age, education, and other sociocultural backgrounds. In the meeting each was also treated equally and democratically, having chances to address their views. It was a great operational tactic to contact and involve outsiders (just like me) at the beginning stage. I believe that “non-digital” campaigns are still significant to promote some digital services.
I might suggest that the Panel representative go further public by discussing own personal experiences or viewpoints in various issues. A blog or journals attached to the portal can be a good tool of communication. If I were this sort of project manager, I would try to make them idols or celebrities. The Panel representatives better become “worthwhile” for public news, instead of just awaiting or collecting any updates provided by someone else.
On the other hands, the project would better clarify and focus upon its primary target groups, at least in the beginning phase. A catch-all strategy is tedious and likely to reduce its original competitiveness.
Finally I encourage the project to form a “coalition of the willing” with similar ongoing projects or initiatives. It seems to me that relations among immigrants in Finland remain too loose even disunited, although they are strongly tied to their ethnic/co-national communities cooperating only with its community members. They are active in dealing with various issues in interethnic relations, namely between immigrants and mainstream Finns. Yet active cooperation among immigrant groups is sometimes more complicated and dormat. I expect Infopankki to become able to play a cross-cultural agent coordinating non-Finnish residents of different backgrounds.
Overall, the news conference seemed successful. The project however has just begun in a new phase, and I would like to wait and see how they fulfill their objectives.
User's Panel representatives
Infopankki: http://www.infopankki.fi
Flood in Helsinki Metro
From HS International Edition
Serious water damage could close Helsinki’s busiest Metro station for months
All the things are still under review, and we can do nothing else but wait and see the development. Yet I go ahead to bring out one of the crucial issues – who should be liable for this damage. For the restration work costs treasure.
I wonder why nobody was able to predict the possibility of such a large scale water leakage. Does it have something to do with professional negligence? If this being true, would it be still fair to cover the repair work by tax, or our money (suppose insurance firms are unable to compensate it sufficiently)?
While never intending to launch any blame-game campaign, I urge all the informtion, investigation results be open and clear... ASAP! The metro closure has already affected the travel of tens of thousand local commuters. It is estimated to take a few months to reopen the line. They cannot allow for further delay, as already seen other public work projects downtown.
Serious water damage could close Helsinki’s busiest Metro station for months
All the things are still under review, and we can do nothing else but wait and see the development. Yet I go ahead to bring out one of the crucial issues – who should be liable for this damage. For the restration work costs treasure.
The head of Metro transport at Helsinki City Transport, Tapio Hölttä, says that the water damage was suffered by the structures of the station. Walls and doors fell under the pressure of the water. Elevators and escalators will possibly need to be replaced with new ones.
“It is hard to say how much it will cost to repair them, as they aren’t goods you can buy off a shelf. The cost will be in the millions of euros in any case.”
I wonder why nobody was able to predict the possibility of such a large scale water leakage. Does it have something to do with professional negligence? If this being true, would it be still fair to cover the repair work by tax, or our money (suppose insurance firms are unable to compensate it sufficiently)?
While never intending to launch any blame-game campaign, I urge all the informtion, investigation results be open and clear... ASAP! The metro closure has already affected the travel of tens of thousand local commuters. It is estimated to take a few months to reopen the line. They cannot allow for further delay, as already seen other public work projects downtown.
Obameter - Policy Watchmen
The Obameter investigates thoroughly as to how, and to what degree the Obama administration has so far carried out its campaign promises or policy platforms. More than 500 promises are subject to scrutiny, followed up and rated. The PolitiFact, who runs the website, won a Pulitzer prize in 2009 for this project
I just think highly of the Obameter and other projects managed by the PolitiFact. This is one of assignments the media guys should engage in, although such a follow-up scrutiny usually requires a lot of time and manpower. The motivation for reporting might decline, as the public tend to lose interest in what politicians promise after casting the ballot.
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