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投資で損すると「勉強になりました」と言う日本人（渋澤 健の資本主義と道徳）
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- 投資で損失を被った人から、「勉強になりました」という言葉をしばしば聞くことがあります。本人にとって、いったい何が“勉強”になったのでしょうか。 “This was educational.” These aren’t the words that you would expect to hear from somebody that just lost money in investing. Yet these words are often heard in Japan, especially in the meeting rooms of institutional investors. It is a nice way to say, “I was stupid that I listened to you.” Usually the decision to make the investment was arduous. In an institutional environment, investment decisions usually are not made alone. Many levels of approval within the organization are necessary, especially if it is a new kind of investment. Many long hours were spent preparing the internal reports that were needed to be approved and signed off by the superiors. The working environment of the salaried worker within a Japanese organization demands an asymmetric relationship between reward and penalty. If the investment works out as expected, then it was because of everybody’s efforts. But, if the investment sours, then it is the fault of the individual. He may not lose his job, but he will certainly lose face. 日本のサラリーマンには非対称的なインセンティブ・デザインがあります。
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