Affiliations: [a] School of International Relations, Tokyo International University, 2509 Matoba, Kawagoe, Saitama 350-1198, Japan | [b] School of Business, the University of Buckingham, MK18 1EG; Vice President, J.E. Harrison & Co Ltd., UK
Note: [**] J. Tong contributed to the discussion of the Chinese section, but K. Hiwaki is responsible for all the contents of this article.
Abstract: This article provides a theoretical framework for a long-term socioeconomic lethargy (Credibility Trap) that results from the liquidation of holistic society-specific culture. As for example, it deals with the cases of Japan today and China tomorrow, elaborating on the slight of their respective society-specific cultures in a century-long process of “modernization”. The present theoretical framework primarily consists of three pivotal concepts, viz., Credibility Trap, society-specific cultures (Cultures) and market fundamentalism (Market), which facilitates a clear, concise and effective argument that the liquidation of their respective holistic Cultures may intimately relate to their actual and potential socioeconomic lethargy. Also, the present article concentrates on the elaboration of some promising avenues for prevention and cure of Credibility Trap. Such avenues comprise the necessary and sufficient conditions for a balanced socioeconomic development; a theoretical framework for a perpetual “virtuous” circle among cultural enrichment, comprehensive human development and balanced socioeconomic development; and a normative framework of multi-faceted value enhancement for vitality augmentation and cultural enrichment within a society.
Keywords: Credibility Trap, holistic society-specific cultures, market fundamentalism, balanced socioeconomic development, comprehensive human development, cultural enrichment, vitality augmentation
