EY Y03 L07 The Cost of Culture

Do you have any interest in Japanese antiques and family heirlooms? Why?
Japan is a country where consumers often expect very high standards and where households are prepared to spend a lot of money on well made artisan products that, in some cases, get passed from generation to generation. These include kimonos, Buddhist altars (butsudan), Japanese lacquerware, Paulownia chest of drawers (kiri tansu), inkan, swords and hina doll displays. Name something in your home or in your parents' home that is considered a family heirloom. Tell us a little about what it looks like and how you feel about it.
Who originally bought it? How much did they pay (even a very rough approximation is fine)? Is it worth that now? Why?
Tell us about a friend, an acquaintance, a family member or a celebrity that you have read about who owns an interesting, beautiful or really expensive Japanese antique.
Do you think young people today are as likely to invest in these items as their parents and grandparents? Why?
The Japanese government often spends a significant amount of money trying to keep traditional craftsmanship alive. Is this a good use of tax payers' money? Why?

Question 1

Yes! As someone who studied Japanese society and global culture at Doshisha University, I naturally took some interest in antiques and things that symbolizes different aspects of the Japanese culture.

Question 2

The only thing that can be considered a family heirloom is one of my mother's family's photo albums. While this item has no monetary value, it is without a doubt invaluable. I have only seen it once a long time ago as this album is stored in my grandmother's house. I don't exactly remember what I saw inside that album as I was still very young.

Question 3

I assume someone who lived long before my grandmother was born bought it. I have no idea when it comes to the value of this album but I'm pretty sure that it has no monetary value in the present date.

Question 4

I have a student who owns a "tsuba" from the Momoyama period. This item was beautifully made by a master sword artisan named Umetada Myōju. I believe that this antique is worth millions of yen in the present date.

Question 5

I don't think young people today invest in tangible items anymore. My circle of friends and I invest in the crypto market and stocks as we believe that we're living in a digital age and everything is going digital. Investing in tangible items sounds interesting but perhaps young people don't really do it as much as their grandparents.

Question 6

I believe that there are far more pressing problems that the government needs to spend money on. With the current state of Japan's aging population and the fact that Japan has a public debt of more than $10 trillion, perhaps the Japanese government can allocate taxpayers' money on issues that affect the whole country negatively. Traditional craftsmanship is a significant part of the Japanese culture, but I believe that the government's spending, compared to the country's GDP right now is very imbalanced.