February 16, 2009

Micro-Protectionism in Japan

Wow. Protectionism is spreading to a whole new level in Japan, according to Times Online:

Its electronic gadgetry is gathering dust on the shelves of high street stores, nobody is buying new fridges and the mountain of unsold plasma televisions is growing by the day.

However, in desperation, Panasonic has hit on the perfect counter-attack against the consumer slump: it has ordered every member of staff to go out and buy £1,000 of Panasonic products.

Toyota and Fujitsu have announced similar campaigns. The next step must be to start paying salaries in plasma TVs. Barter economy, here we come. :-)

Hey, maybe it's not such a bad idea after all. Imagine high level management being compensated with tons of company products. What better way is there to make them concentrate on the quality of the products than having to personally sell them for cash in the market? :)

I never knew that protectionism could be a microeconomic issue.

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