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Nomunication

The in vino veritas approach to business communication prevalent in Japan. (A portmanteau of the Japanese word for drinking, nomu, and communication.)

Reporting for Bloomberg on alcohol abuse in Japan, Jason Clenfield wrote:

The country’s business and political culture has long depended on alcohol to smooth out differences between bosses and subordinates or between parties in a negotiation, Nozaki [managing director of Alcoholics Anonymous of Japan] said.

“Drinking is part of the job,” said Satoshi Miyazaki, an employee at a Tokyo advertising agency who says he accompanies his section chief to a bar most week nights. “If the boss invites you, you don’t feel comfortable saying no.”

The intimacy that drinking fosters between friends, clients and colleagues has given rise to a new word: “Nomunication,” a bilingual coinage combining the Japanese for drinking with communication.

Babygloomers

(British) baby boomers struggling to support their children and their parents.

“Financial experts and politicians noted that a ’sandwich generation’ of adults squeezed between their parents and children has become one of the most striking phenomenons of the credit crisis,” The Telegraph reported, quoting a mortgage broker as saying:

“The Babygloomers have a huge responsibility on their shoulders. They are being squeezed in two directions - on one side by their children who need help with their mortgage or getting on the housing ladder, and on the other by their parents who are suffering from restricted income because of the low return on savings rates.”

(The children of beleaguered babygloomers are known as the “bungee brood” – according to The Daily Mail, because they repeatedly “bounce back” to their parents for financial support. Bizarrely, 80% of young British adults recently surveyed considered themselves to be financially independent despite receiving economic assistance from their parents.)

Econocide

Suicide seemingly catalyzed by the economic crisis.

“It is the most iconic image of the 1929 Wall Street Crash,” Claire Prentice reported for the BBC, “financiers, having lost their fortunes, jumping to their deaths from the windows of skyscrapers.”

Now, 80 years later, American psychologists have coined the phrase “econocide” to describe a wave of suicides they say is linked to the current global economic crisis.

According to Price, the problem is not restricted to financiers. One doctor told her, “People think econocide is a problem on Wall Street but it is also affecting people on Main Street, ordinary families who have lost their homes, their jobs, their savings.”

(The term econocide has also been used to describe decisions with catastrophic economic consequences. In his 1977 book “Econocide: British Slavery in the Era of Abolition“ Seymour Drescher argued that abolishing the slave trade in 1807 was tantamount to economic suicide. And in 1999, Business Week used the term to describe the impact of Indonesia’s violent campaign against East Timor: “The chaos militias and the Indonesian army continue to inflict is no less than econocide.”)