Following the positive response to Dr. Miyamoto's MIT speech, I am presenting another one of his speeches which relates to the role of education in Japan and how it pertains to the Japanese bureaucratic state and the subject of market deregulation. These two speeches provide superb insights with respect to the Japanese institutional and popular reaction to the epic calamity we are all witnessing in Japan. It is a pity that Dr Miyamoto is not alive to offer his unique insights today. Luckily, we have the benefit of his writings. The speech is annotated with a number of my own observations in brackets. WB7