Growth and Redistribution: An Agenda for Japan
Specific Measures Prime Minister Kishida Can Take If He's Serious
In running for the Presidency of the Liberal Democratic Party, new Prime Minister Fumio Kishida correctly declared "no growth without redistribution" and "no redistribution without growth." Indeed, according to a 2015 report by the OECD, had Japan not suffered an increase of inequality during 1990-2010, its per capita GDP would have grown almost 25% faster. Once Kishida became Prime Minister he effectively retracted his promises.
Admittedly, all too often, Japan has, in the name of equality and/or security, implemented anti-growth measures like shoring up zombie companies or putting high tariffs on food imports. However, there are plenty of measures that can make equality and growth mutually reinforcing. In this article for Toyo Keizai on-line, we offer a few examples of specific measures to understake.
English and Japanese.