Key Facts
• Japan’s ‘money worship’ stems from cultural, economic, and psychological factors.
• The 2024 wage increase reached a 32-year high: 5.58% for large firms, 3.92% for SMEs.
• Nearly 40% of Japanese workers are in non-regular employment, with stagnant wages.
• Japan’s tax system exempts employees earning under ¥20 million from filing taxes.
• 90% of multi-person households in Japan have life insurance, reflecting risk aversion.
• The ‘bubble economy’ collapse erased ¥270 trillion in market value, reshaping financial attitudes.
• Genetic studies suggest Japanese people have a higher prevalence of the S-type 5-HTT gene, linked to anxiety.
• Cultural upbringing often prioritizes saving and job stability over financial growth.
• The ‘lifetime employment’ system created unrealistic expectations for financial security.
• Author Shunsuke Kanemizu highlights the importance of how money is used, not just accumulated.
Summary
The spread of ‘money worship’ in Japan is deeply rooted in cultural, economic, and psychological factors. Cultural norms emphasize saving and job stability, while the tax system and social security reduce financial awareness. The collapse of the bubble economy and genetic predispositions to anxiety further reinforce risk-averse behaviors. Despite these challenges, Shunsuke Kanemizu argues that true financial success lies in how money is utilized rather than merely accumulated. His insights highlight the need for a shift in perspective to break free from the constraints of ‘money worship.’
