Japan’s Temple-Builder Kongō Gumi, Has Survived Nearly 1,500 Years
openculture.com
openculture.com
Real interest rates in Japan were on par with in the US in the mid-2000s [0], and only entered the negative range when the US began dropping interest rates to near 0 during the GFC [0].
The bigger issue in was the hangover of the 1990s Japanese bust which lead to larger players tightening their belts at the expense of smaller players [1]
The big players in Japan are also similarly old (usually 300-500 year old guilds converted into corporations/zaibatsus in the 19th century)
There is also a succession crisis brewing in plenty of Japanese, Korean, and Taiwanese businesses. One person in my network is leaving American Tech PE/VC to concentrate on buying out Korean and a Japanese companies facing issues around succession now - just like American SMEs businesses faced in the 1970s-2000s.
Ik people like to shoehorn the Japanese experience to extrapolate American and Western policy, but the Japanese economy is structured very differently from Western economies with an entirely different view on antitrust (ambivalent to opposed), welfare (highly supportive), inflation (keep it as low as possible), and state intervention (highly supportive).
The only developed countries that can safely be compared to the Japanese economy are South Korea and Taiwan (maybe Dirigisme-era France and Italy pre-1990s, but they had the benefits of the EC/EU which made stuff significantly different).
I recommend reading "The Japanese Economy" by Takatoshi Ito and Takeo Hoshi [2] and "Corporate Financing and Governance in Japan" by Takeo Hoshi and Anil Kashyap [3]
[0] - https://data.worldbank.org/indicator/FR.INR.RINR?end=2013&lo...
[1] - https://www.japantimes.co.jp/news/2000/01/03/national/execs-...
[2] - https://mitpress.mit.edu/9780262538244/the-japanese-economy/
[3] - https://mitpress.mit.edu/9780262582483/corporate-financing-a...
>with an entirely different view on antitrust (ambivalent to opposed)
Post-war, Japan (with the American occupation's "help") did what would be unthinkable to American businesses, taxing the personal wealth of company heads up to ~85% and purging them from their companies. This left much of Japan's industry essentially controlled by the government.
Not really.
There were similar works barely 20 years before Werner about the role MITI played in the Japanese miracle and how the US should emulate it (Chalmer Johnson's "MITI and the Japanese Miracle" played a significant role in seeding what became the CHIPS and IRA, as it was required reading in 80s and 90s era policy circles)
Werner's major contribution was his argument that the policies he ended up coining as QE could have resolved Japan's malaise in the 90s (and he absolutely was correct looking at Abe-era Japan's performance compared to before).
And Japan's planned economy is overstated, as Seong-ik Oh's recently published "Overseas Energy Investment of Korea and Japan" investigates
Furthermore, these are all texts that are expected reading in any upper level Asian Economics class.
> leading to a brief period of cheap and easy money that completely destroyed the remarkably solid and sustainable economy Japan had built post-war
The biggest cause was bad loan issues caused by lack of auditing and due dilligence. [0]
In that era, the BoJ would set a quota on loan origination (called a window guidance) that Japanese banks needed to meet (p.s. China used to do the same thing til 2015 which is a major reason for China's current real estate crisis)
The Plaza Accord would not have had as severe an impact if Japan's Window Guidance policy didn't incentivize business loans with minimal due diligence.
> Post-war ... purging them from their companies
And they completely reconstituted themselves in the 1950s by adopting the Keiretsu corporate structure where a single asset management firm controls all the broken off assets of the initial zaibatsu.
This is what Mitsui, Sumimito, Mitsubishi, Fuyo, etc did.
Take a look at NYT reporting about this from 1954 [1]
Japan also does not have a wealth tax.
> This left much of Japan's industry essentially controlled by the government
Japan always had a high amount of government intervention in it's economy.
MITI was the driver of Japanese industrial policy.
I recommend reading "MITI and the Japanese Miracle" (1982) by Chalmers Johnson to dig deeper into the history of interventionism in the Japanese model [2]
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While the Plaza Accord did have a significant impact on the Japanese economy, the recent politically driven "pop econ" Plaza Accord view needs to die [3]
Like anything else that's pop-anything, it's so broadstrokes that it's bordering on misinformation.
[0] - https://www.imes.boj.or.jp/research/papers/english/me19-s1-1...
[1] - https://www.nytimes.com/1954/07/17/archives/japan-again-plan...
[2] - https://www.sup.org/books/title/?id=2791
[3] - https://www.imf.org/-/media/Websites/IMF/imported-flagship-i...
Survived nearly 1500 -> Nearly survived 1500
Kongo gumi still continued operating even though it went through a restructuring, so it's fair to say it's still the oldest company in the world.
Just it's no longer the oldest family business in the world - that ended when direct Kongo control of it ended, although I hear they still have a ceremonial involvement with the company.
So it depends on what you mean by “they”, the company with the old name Kongo Gumi is no longer in construction, but otherwise the company with the new name Shin Kongo is, as a subsidiary of another conglomerate.
Bloomberg also had an article https://archive.is/rLnnH
I feel like the core of the company – led as a family business, earning real money – would be lost if it was suddenly state-supported, with the inevitable meddling to go with it.
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https://en.wikipedia.org/wiki/Nakamura_Shaji
https://en.wikipedia.org/wiki/List_of_oldest_companies
(Of course, since wiki page hasn’t been updated for the first, it might also have quietly passed into the ether)
[Cue yada yada the batman snowclone “live long enough”, eg you either die a batman or live long enough to become Batman)
https://en.wikipedia.org/wiki/Batman_(military)]
[another source of hypernormie pro weirdos, from my personal anecdata, are psychiatrists, im guessing the sibboleth is the high neuroticism to __ ratio, which comes off as wisdom (after discounting for age).. weird pronormies would then be econs profs? This is prob why both trigger the So[Ha]Ri(veign/vian) Taleb lol]
Also should have replied to alephnerd in a more timely fashion
At one point I ran across a US book which noted that children of psychiatrists tend to wind up in treatment themselves, with the exception having been just after WWII (when the army's need for psychiatrists meant they retrained many people who had studied as regular GPs), and concluded that it may be a field many people pursue due to the attraction of self-diagnosis.
Had the Athenians been speaking to the Melians on the subject of signal/call-sign analysis, would they have said "the boring are anonymous in their masses for they can, while the novel leak identity as they must"?
(Novelty not referring to semantic goodness; I'm afraid just with the purely syntactic category of "number* of distinct code-points employed" my 'hand' would be extremal, both here and in Persia)
* I think I owe the notion to you that as long as one has been given summation, recovering multilinearity from linear elements is easy?
- the more ornate, the better
- unlike palaces, every town needs at least one, and if you're polytheistic, so much the better
- extremely price-insensitive clients who are content to wait generations
- you can probably easily bulldoze both structures and local opinions that get in the way of construction because you're building for a cause everyone's supposed to worship
The organization has existed and has had a need to find funding for it's activities. Since the question was about 'state' run entities, the goal of "making a profit" seemed not particular salient.
Honestly, I thought the more contentious part of this claim was going to be if the Church of Sinai constituted a state.
That is not as contentious, because it's basically autocephalous/self governing.
It's always been a couple dozen loners in the Sinai peninsula maintaining self sufficiency, which is why I don't find it a good example - as there are plenty of similarly old and continuous organizations, but never truly scaled.
Also AFAIK most of these constructions are made of wood, which also mean they need to be rebuilt over time. I think I also remember it is even part of the Buddhist tradition (at least for temples), a way to emphasis the impermanence of things.
See for instance this long but fascinating video on one of the most famous temple of Kyoto: [1] https://www.youtube.com/watch?v=rAeN7TdGq4o
Found another reference, but for a shrine: [2] https://www.smithsonianmag.com/smart-news/this-japanese-shri...
We shouldn't assume that all of the world's faiths follow the tradition of building temples as permanent monuments of stone and gold.
The big problem with these temples is not religion it’s deforestation. The spine is made of old growth timber. So some of these temples survived over a thousand years until the central pillars were deemed unsound and needed to be replaced. Problem is that the new pillars are estimated to need replacement again in 400 years. They are made of less sturdy stuff.
Indeed, by the time Europe had f*ed up all of Asia in the mid-1800s and reached Japan again, Japan had very high levels of literacy which was perfect for selectively taking of high-culture/industrial-technology of Europe.
Article doesn’t seem to mention that Japanese temples are rebuilt periodically every 20-60 years.
Most construction businesses don’t have this recurring revenue model, tied to religious rebuilding.
The reason there are few really old buildings in Japan is that earthquakes and WW2 destroyed almost all of them. That said, Kyoto and Nara do have numerous 300+ year old buildings like Todaiji, which also remains the world's largest wooden structure.
The world's oldest extant wooden structure is the Kondō (main hall) of the temple Hōryū-ji 法隆寺 in Ikaruga, in the Nara Prefecture of Japan. It was initially built in 607 but completely burned down due to lightning. It was rebuilt in 670, but again nearly burned down by accident in 1949 [1].
It's interesting to contemplate how across these timescales war, disasters, and accidents make it so difficult for structures to survive.
What is old? These companies have differing memberships, different corporate structures, and make different things. Yet we call them the same company.
Constancy need not be only of form. It can also be of concept.
I think this is more the exception than the rule, isn't it?
Norway still has more than a dozen wooden churches built in the 1100s-1200s, and on farms in the inland there are more wood buildings dating back several hundred years than we can count.
I’m not sure how well that works when the ground keeps moving. Some places manage it to a degree, but the cultures that come to mind (Aztec) weren’t on land as shaky as Japan.
An interesting takeaway was that lightning strike fires have been a major "need to rebuild everything from scratch" trigger until very recently actually. I’m always amazed at how much time it took to come with things that are all in all rather trivial to build while bringing a major difference on the table.
The documentary also went through seismic tests, explaining how the architecture was so resilient to them, how the fact that all peaces are really just plugged in together and relatively easy to replace with a fresh new copy, even large steels and pillars. Truly amazing masterpiece.
These companies have survived because any time the family had only girls, one of the women would marry and their husband would be adopted. Thus making the husband the eldest man, and keeping the business in the family.
Japan having family businesses is not the factor, all businesses were good family businesses before the invention of the stock company. Instead what doomed most family businesses in the west was the eventual chance of getting unlucky with inheritance.
The general acceptance of adult adoption to continue a family line, kept those businesses in a single family and justified passing the business whole to the "eldest son".
> In some odd ways, you can view many of Japan's famous and historical companies such as Mitsubishi and Mitsui as having assumed the role of the lords from feudal Japan, and the employees working for these companies can be seen as the modern day warriors. They devote absolute loyalty to their companies/modern day lords, who in turn vow to take care of these warriors by providing life-time employment, etc.
> However, if these warriors tarnished the image of their companies somehow, e.g., involving in a scandal whereby their companies get blamed, or the reputation is severely damaged, then these corporate warriors would assume responsibility by kneeling down to apologize in public, and/or in some cases, jump off a building in an extreme expression of their deep regrets for failing to defend the honor of the company.
Historically, warriors who protected the feudal lords would also commit suicide when they failed their master. See the Bushido book for more information about Japanese culture in English terms. It's really hard to express the culture in English, I think, because some is lost in translation and some is just hard to put in words.
Japan is one such country and also happens to have been around a long time too.
Also, for a group to be resilent, there actually needs to be a lot of creativity at in its members as otherwise it will collapse when it meets challenges.
Could you elaborate on this some more? It was my understanding people were discouraged from even dressing different, for example.
And keep in mind that China had the Cultural Revolution which reset the counter to zero.
Looks like hospitality and foodservice make up the majority of the list, while very old construction companies are actually relatively rare.
https://tvtropes.org/pmwiki/pmwiki.php/Literature/TheDrawing...
Most entertainment business are also not solving problems, and yet manage to be extremely successful businesses. See: Disney, Pokémon, video game companies, etc.
Is food a problem? Clothes? Housing? Historically societies that have lacked markets in these (grow your own food, make your own clothes etc) are not something I would call as aspirational models for our current civilization.
Their structure seems to have been like a private corporation, with special rules and efforts to maintain their ideology and culture. They had the ability to expand outside the current leading families when necessary, though.
When they hit the recent hard patch, they pivoted, but didn’t scale back enough to survive until the next great leader showed up. They fell into the hands of modern corporations, and we all know how that turns out.
I seize the opportunity to wish you a great satisfying and fulfilling life in harmony with the rest of your relatives, whoever you are.
1. Datacenters or datacenter construction may be the most high-tech ones I would try. Not cloud services, but the literal physical buildings.
2. Musical instruments, art supplies, or other cultural/religious goods of some kind, possibly as high-tech as electric guitars or synthesizers (although those have not historically gone well).
3. Financialization businesses like insurance or securities packaging of some kind could work (if you don't get high on your own supply).
4. Food and hospitality never go out of style.
I assume that the way this sort of business would work is a 3-step process:
1. Start by becoming the best in the world at something very weird and specific.
2. Bootstrap your business with enough connections to start making sales without needing significant financing. Run as a completely bootstrapped business.
3. Convince your children to continue being the best in the world at that thing and maintain your values. If you don't have any suitable children, adopt one. Also, make sure to disinherit any children who are not both very competent and fully onboard with the plan - you need to keep the power concentrated in the one or two best successors.
It's no accident that a lot of these long-lived businesses in Japan, where all three of these are part of the culture.
One answer would be focusing on basic human activities. People will still probably be eating and traveling in 500 years.
Another would be to figure out and/or develop the “temple” of whatever future belief system or religion one thinks will be necessary and popular in the future. And this could be a currently existing religion; Islam and Christianity will probably be around in some form or another for a long long time.
With wooden furniture you are (at least for some time) also blocking release of stored CO2 back into atmosphere, a fate all other wood faces.
I’m sure there are modern day rich people who can trace their way back to the Greek rulers of Egypt who intermarried with the Egyptians of antiquity.
You can trace power. Aristocracy used marriage as a political tool, but I doubt there are commercial entities that persisted - business was seen as dirty in those days in Western culture. Anywhere the Catholic Church was, lots of enterprises were laundered through them.
"The oldest preserved share in the Swedish copper mining company Stora Kopparberg (Falun Mine) in Falun was issued in 1288. It granted the Bishop of Västerås 1/8th (12.5%) ownership, and it is also the oldest known preserved share in any company in the world."
Interesting, especially considering that Sweden didn’t have limited liability companies until 1st of January 1849 [1]. Any ideas how this worked?
1. https://www.foretagskallan.se/foretagskallan-nyheter/lektion...
Legal personhood dates back to (at least) Ancient Rome:
* https://en.wikipedia.org/wiki/Legal_person
Medieval guilds, city charters, universities were all forms of such. Liability would be implicitly included in such structures.
The UK law formalizing the structure of LLCs didn't really come around until the 1800s. Think of how many institutions in the UK are older than that (e.g., Bank of England is from 1694).
Or for something that is a little more distinct from the government itself--Hudson's Bay Company in Canada was formed in 1670. Canada didn't exist yet and the laws weren't on the books. It was created by royal charter. It's currently owned by an American private investment firm.
So effectively we used to have the death penalty for companies that committed treason-adjacent acts, or killed customers.
I think even back then the kings were losing power to the governments that ruled in their name.
It's also interesting to note that some of Europe's colonizing was actually done by companies which had armies, and definitely killed at least some of their customers (whether you think the customers were the colonizers or the colonized).
a church is a completely different institution to a country. countries are not decentralised. they do not advertise. they are (usually) not selling an idea. you cannot just decide to become a member of a country. the catholic church is all of those things and so are businesses. the catholic church is essentially a very entrenched business with a weak facade of being a state.
Some stores will have people willing to stick their neck out to defend them during riots. Some have good insurance and don’t care. Which ones get obliterated when the pitchforks and torches come out?
Are there any that have existed as long as this company? Some sort of have if you are a bit vague and wave your hands a bit.
To make the question meaningful you probably have to make it a lot more specific. Otherwise the answer is just a debate about what constitutes a country, and what constitutes it coming into and out of existence.
I think there’s many restaurants that last a long time, but they aren’t what I’d consider a “large” company.
However, the earliest written references to falafel from Egyptian sources date to the 19th century
-Wikipedia
I doubt there's a 1000 yr old falafel shop in Jerusalem, if you remember the name, pray tell
I had to go check whether they'd survived the 2008 financial crisis without being absorbed, and I think they did. A lot of the UK's oldest banks and building societies got absorbed in a consolidation wave immediately before (and partly causative of) the financial crisis.
It's like the Hudson's Bay Company, which claims continuous existence since 1670. That's really a unit of US mall operator NRDC Equity Partners, which acquired Hudson's Bay and switched to using that name. They also own Saks Fifth Avenue and various other department store chains.[1]
Wineries, hotels, and makers of ceremonial goods are indeed common among older companies listed on Wikipedia.
However, I was watching the second video linked in the article made by Endevr and it just sounds like it was made by and read by ChatGPT. The pauses are off and inflections are exactly the same on some words sounding unnatural. Is it me, or does anyone else feel that way about it? This isn't a new trend, is it?
When you buy an AI voice, there isn't (yet) much you can do to get it vary its read, and many of the least-expensive voices you can buy are from these early mostly self-taught voice talent. When I used to hire agents to train for one of the 78 Voice Acting Expo events we put on, they would tell me that most voice actors "lose their talent when they get an agent". Too many trainees feel that acting is not something you do, it something used to train them, and that once they are trained and graduate by getting an agent, they simply need to "open their mouth and gold will fall out". A similar reversion to the mean happens in other areas of training. People return to just "making an effort" after training. I remember my parents (father was an Army doctor) going to tennis camps, and being good for a few weeks afterwards, but not having much of what they learned "stick".
It's interesting to see AI immortalize this odd self-taught speech.
I guess it's good business from the ad income sharing, and at the very least it's slightly more interesting than people posting reactions to reaction videos.
The institutions that endure seem to be religious, or family run institutions. One change in outlook is towards values/principles(/blind-faith?), as opposed to scaling/commercial aspects. Nation states and companies are broadly about a century old, and philosophers need to think and call out paths for current institutions and people for endurance.
2) Evolution is possible with endurance. Religions and these family business have adapted to changing requirements of the world (mostly). It's core principles that have perhaps stayed the same. There's also confirmation bias at play - theres plenty institutions that were at odds with evolution did die out for sure.
You raise a good point, but IMO we're giving close to zero thought on how our current institutions will endure. Perhaps one answer is don't do anything and some will anyway.. (I don't like that answer, personally)
This is spurious. What about history or religion shows that for profit companies should last a long time?
Some small percentage of those photons are going to approach the black hole at the perfect distance such that they will be slung back on a trajectory where our solar system will be 1500 years from now.
Suppose in a thousand years we decide to build a space telescope of tremendous proportion sufficient to peer into that tiny little window and it takes us 500 years to build it. We could watch opening day!
Those quack homeopathy treatments operate on the assumption that water has a "memory", and it's somehow enough that it's been in contact with some molecule in the past. The astronomy version would be that space has a memory, and you can observe anything if you know there was a relevant photon out there at some point.
Have you calculated this or are you just speculating?
The quantization of light is a real physical limit that may make this impossible. The rest sounds more like engineering problems.
Under direct sunlight typical illumination at noon is on the order of 1 kW/m^2 (this is a slight overestimate, since Japan is in the mid-latitudes and not the tropics). Typical surfaces reflect roughly 10-20% of the light that strikes them; let's say 10% to make the math easy and to compensate for the previous overestimate. So 100 W of mostly visible light is reflected, i.e., 100 joules of energy per second.
A single photon of visible light has an energy of about 4 x 10^-19 J, so that's 2.5 x 10^20 photons reflected from our hypothetical square meter per second.
The black hole has a radius of around 30 km, or an apparent area in the sky equivalent to a plane of size pi * (30 km)^2 = 2800 km^2. It's actually a bit bigger than that because the "shadow" of a black hole is larger than the event horizon, and that's what we need to hit, not the horizon itself. So let's say 10,000 km^2 to make it nice and round. That's 10,000 km^2 of coverage on a "sphere" of radius 1500 ly and hence of area 4 * pi * (1500 ly)^2 = 2.5 x 10^33 km^2. So the shadow of the black hole occupies about 4 x 10^-30 of the sky.
If we spread out 2.5 x 10^20 photons across the sky evenly, we hit the black hole's shadow with about one-billionth of a photon from our square meter of Earth per second, or about one photon every 30 years. You hit it with a photon from somewhere on Earth at most roughly every ten seconds or so (when the geometry is such that Earth is close to "full" from the black hole's perspective).
The situation for actually lensing it properly to get it back to Earth is far worse, since not only do you have to hit the "shadow", you have to hit a particular point in the distorted image of the sky that corresponds to Earth, meaning you effectively have to thread this needle twice. Assuming you just want to hit Earth, which is bigger than the black hole's shadow, you're still trying to hit another 10^-26 or so shot. A single photon from Earth should make that shot roughly every 10^19 years, or about a billion times the current age of the Universe.
TLDR: ain't gonna work.
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In reality, none of this matters for a more fundamental reason: diffraction. The fact that light "smears out" as it travels poses a fundamental limit to resolution based on the size of your telescope, and the resolution we're trying to achieve here is orders of magnitude beyond it. For scale, Hubble is pretty close to the diffraction limit for visible light and a telescope of its size, and it already can't image planets within our own solar system at the resolution we're talking about here. So no reasonable telescope could even image Earth from the black hole, much less image a tiny portion of Earth.
...or that would be true, if you limited yourself to physical telescopes.
See, the diffraction limit depends on the size of your telescope, or more properly, on the size of its lens. And the effective size of a gravitational lens can be very, very large indeed. It turns out that current technology is sufficient to reach a distance where the distortion of the Sun's own gravity focuses light - the required distance is a few times the distance to the Voyager probes. From that vantage point, you could theoretically use the Sun itself as a giant telescope. And the resolutions achievable are tight enough that, while you wouldn't be able to image individual square meters, you actually could image details of planets with a resolution of tens of km (the rough equivalent of looking at a globe from a distance of a couple of feet away) across galactic distances. [1]
The reason this works is that it's not hitting the gravitational shadow of the gravitationally-lensing object itself - it's hitting a focal "ring" with a very large radius around the object, effectively magnifying the imaged object by ~eleven orders of magnitude. At such magnification even a handful of square meters start hitting with meaningful numbers of photons, though diffraction is still (I think) the limiting factor on actually resolving anything.
The black hole here is not much more massive than the Sun, so it wouldn't achieve too much more power. But with careful observation, you could use the hole to image Earth to a scale that would let you map out our world and our civilization to reasonable accuracy - if not the details of our corporate endeavors.
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[1] https://en.wikipedia.org/wiki/Solar_gravitational_lens
See also https://en.wikipedia.org/wiki/WHL0137-LS for an example of this kind of lensing on the scale of galaxies, which allows us to see a single star (or possibly a binary) from literally halfway across the Universe.
Doing the math: the Wikipedia article says the solar focal distance is 547 AU, which would be an orbital period of 547^1.5 = up to 12793 years to line up with any particular target along that plane.
That, and the fact that it's much nicer to poke fun at "higher ups" than at peers. So if you make your whole organization about "higher ups" there's a lot of fun to be poked, I guess.
Much newer, though, of course; there are (quite a few) pubs older than the CoE.
It would be impossible to make this joke about Judaism or Islam, or at least, if you did, it wouldn’t make any sense.
The Knights of Malta is a similar case, though newer; used to be a state, and kind of still pretends to be a state, but really a non-profit corporation of sorts.
I guess there's Mel Brooks.
>> jokes like this
> this joke
I think you know EXACTLY what I'm talking about and being disingenuous muddying my point.For this particular joke, though, neither would make any sense.
>>>> A LOT of jokes like this but NOT MANY [...]
> Unless you're claiming that NO-ONE EVER makes jokes OF ANY SORT about the other two big Abrahamic religions, but, I mean, er, THEY DO.
Again you change what I say and then you use it to blatantly lie. There are jokes on the other two but it is very, very rare and usually very, very mild. And you know exactly what I mean.I'm done. I don't care about your answers out of cognitive dissonance or straight out malice.
And final note: I'm not even Christian.
FWIW where I'm from and in my social circles, the other two religions get joked about way more.
An example - in the Seinfeld episode 'The Bris', there's a bit of exposition where Kramer finds out what a bris is (and is disturbed by it). The reason for that exposition, presumably, is to explain it to the _audience_; the jokes wouldn't work if the audience don't know what it is. This just isn't work you have to do for the basics of Christianity, so making jokes about it for a wide audience is easier.
(Of course, if you want to get super-vague, one could semi-reasonably argue that the Catholic Church is just a successor state to the Roman Republic via the Empire anyway, which pushes it back to about 500BCE.)