Market instability is not accidental.
As reckless self-interest spread to its extreme, 20th-century capitalism began moving toward self-destruction.
Japan, a nation where the “turntable of civilization” is turning, should build a stable, world-leading market and pioneer 21st-century capitalism.

2016-04-04
Today’s front page of the Nikkei carried a series titled “Market Dynamics,” with the headline, “Volatile Markets Ruled by ‘Volatility’ — Instability Born of a Flight to Safety.”
Reading this article, I was struck by a clear realization.
As reckless self-interest spread to an extent that could fairly be called extreme, 20th-century capitalism began moving in a direction that would ultimately undermine capitalism itself.
The absence of any fragment of natural and rightful patriotism—indeed, the hollow moralism that entirely lacks such patriotism—has produced these grotesque outcomes.
Such foolish self-interest is filled with dangers that threaten to destroy the world.
At the same time, as readers know, I was reminded of what I have long been compelled to state and advocate.
It is acceptable to put an end to 20th-century capitalism.
In fact, it must be ended.
Japan, a nation in which the turntable of civilization is turning, should without hesitation make the Tokyo Stock Exchange a market rivaling or surpassing the New York Stock Exchange, both the largest and the most stable in the world.
In doing so, Japan should create a form of capitalism suited to the 21st century.
Until August two years ago, Japan had been dominated by newspapers such as the Asahi Shimbun—immature, malicious, and utterly devoid of natural patriotism.
These outlets not only consistently pandered to countries that continue anti-Japanese education and propaganda—something that exists in only two nations in the world—but also praised North Korea and even glorified the Cultural Revolution.
Newspapers infiltrated, manipulated, or willingly employing individuals who resembled agents of such regimes came to monopolize public discourse, place so-called cultural figures under their complete influence, and rule the nation.
Had Japan not been governed by such infuriatingly foolish hypocrisy, deception, and lies,
capitalist society would have been far more stable than it is today.
The world would not be as dangerously unstable as it now is.
I reached that conviction anew upon reading this article.
That article will be introduced in the next chapter.