deference to authority was detrimental as political and economic institutions enjoyed unquestioned obedience, which led to the financial debacle of the past two decades. Rather than critically examining the idea of earlier generations and coming up with creative responses to current problems, Japan, a country largely influenced by centuries of Buddhist teachings, failed to realize its enshrined wisdom, that change is the only permanence in life in solving its lingering economic malaise. References Bhanoji, R. (2001). East Asian economies: Trends in saving and investment. Economic and Political Weekly, 36(13), 1123–1133. Retrieved from www.jstor.org/stable/4410459 Bloom, Irene. (n.d.). Three Confucian Values. Retrieved from https://cesa.rc.iseg.ulisboa.pt/ Three%20Confucian%20Values.pdf Breene, K. (2016, February 16). Why is Japan’s economy shrinking? World Economic Forum. Retrieved from https://www.weforum.org/agenda/2016/02/why-is-japans-economyshrinking/ Chinese Global Television Network. (2018, May). Asian values: Diligence and thrift, do we still value these virtues? CGTN. Retrieved from https://news.cgtn.com/news/ 3d3d514f79456a4e78457a6333566d54/index.html Excess Asian savings are weighing on global interest rates. (2019, November 21). The Economist. Retrieved from https://www.economist.com/finance-and-economics/2019/11/21/excessasian-savings-are-weighing-on-global-interest-rates Johnston, E. (2009, January 6). Lessons from when the bubble burst. The Japan Times. Retrieved from https://www.japantimes.co.jp/news/2009/01/06/reference/lessons-from-when-thebubble-burst Kaplan, R. D. (2015, February 6). Asia’s rise is rooted in Confucian values. Wall Street Journal. Retrieved from https://www.wsj.com/articles/asias-rise-is-rooted-in-confucianvalues1423254759 Kollewe, J., & McCurry, J. (2011, February 14). China overtakes Japan as world’s second-largest economy. The Guardian. Retrieved from https://www.theguardian.com/business/2011/ feb/14/china-second-largest-economy Lessons from a “lost decade.” (2008, August 21). The Economist. Retrieved from https://www.economist.com/finance-and-economics/2008/08/21/lessons-from-a-lostdecade Suleski, R. (1999). Japan after the bubble burst: Traditional values inhibit quick comeback. Journal of the International Institute, 6(3). Retrieved from http://hdl.handle.net/2027/spo .4750978.0006.303 Tan, C. (2017). Confucianism and education. Oxford Research Encyclopedia of Education. doi:10.1093/acrefore/9780190264093.013.226 Weber, M. (1905). Protestant ethic and the spirit of capitalism. Germany: Wilder Publications.
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