Our Town: Jazz Fusion, Funky Pop & Bossa Gayo Tracks from Dong-A Records (Second Edition, Hot Pink LP Vinyl)

One word that might aptly describe Japan’s society and culture during the 1980s would be ‘bubble economy(バブル 景気)’, which is to say that it was characterized by abnormally inflated asset prices. Japan, which had emerged as a global economic powerhouse through rapid growth during the 70s, saw an era of unprecedented economic prosperity as it entered the 80s. As the Yen appreciated, the Japanese government opted to focus on stimulating domestic growth. Policies for driving domestic demand, such as low interest rates and relaxation of loan requirements, saw mass capital flows to the stock market and real estate. Japanese people experienced an unprecedented level of economic stability and leisure. The interest rate on savings accounts at banks hovered in the 8% range. Companies looking to hire new recruits paid hundreds of dollars to interviewees, and it was not uncommon for a salaryman in his 20s to make upwards of half a million dollars per year. It was a blissful time for everyone involved – businesses, the state, and the people. Or so it seemed. By the early 90s, this short-lived bubble suddenly collapsed as interest rates spiked and loans were put on hold.

1 BITGWA SOGEUM (LIGHT & SALT) 'The Fairy of Shampoo'
2 HAN SANG-WON 'Seoul, Soul, Soul'
3 YASHA ‘Snow-fighting Kids’
4 JEONG WON-YEONG 'Bygone Days'
5 KONA 'The End of Summer'
6 JANG PIL-SOON 'Before You Know It'
7 KIM HYUN-CHUL 'One Evening, On My Way Back from Hweng-gye'
8 SONG HONG-SUP 'When Tomorrow Comes'
9 LEE JUNG-SUN 'Dancing Child'
10 OH SEOK-JUN ‘Since You Left’