Yomiuri Shimbun Review of My Book

I’m honored that the Yomiuri Shimbun, Japan’s largest daily newspaper, made the Japanese translation of my book, The Contest for Japan’s Economic Future, the lead review of its Sunday review section. It’s also gratifying that Yomiuri chose to include an interview with me. The reviewer, Yuki Kobayashi, and I had a wonderful conversation, including how I got interested in Japan and the inspiration I got from my meetings with young entrepreneurs.

For the Japanese original, click here. This is a translation of the review:

“I wanted to convey to lawmakers and bureaucrats in an easy-to-understand manner that this is how to restore Japan's economy. I presented a positive scenario.” A journalist well-versed in Japanese affairs spoke powerfully about the purpose of compiling this book.

The key word is “gazelle.” This is a term that likens rapidly growing, highly productive new companies to this fleet-footed variety of African antelope. Katz believes that the biggest reason for Japan's 30-year woes is the lack of a new generation of gazelles to replace the old large companies. “Japan needs a new generation of dynamic, innovative young companies. For that to happen, a social safety net must be put in place so that people can feel secure even if their start-up companies fail. Yet, many forces resist the needed reforms. In the sense of fighting against the old forces, I chose the original title The Contest for Japan’s Economic Future,” he said.

Born in 1951 in a small town in the U.S. state of Massachusetts, he was curious and wanted to see the world. So, he went to Columbia University, where he became interested in Japan while studying economic history. He loved writing, learning, and communicating, and after graduating from the university, he began writing freelance articles about Japan. He’s been writing about Japan’s economy for almost five decades. “It is so dramatic that Japan always comes back like a phoenix, even when it has hit rock bottom,” he says.

“The young entrepreneurs I met during my research for the article were not only innovative and ambitious, but also had a strong desire to help Japan, which gave me hope. This generational change, combined with technological innovation in the digital field, give Japan the best opportunity for revival since the lost decades began. The top layer of society is paralyzed, but at a deeper level, change is beginning to occur.”

I asked him why he was so supportive of Japan. He replied that he is always interested in societies undergoing change. Beyond that, all he could say was, “It’s like asking me to explain why I love my wife. I just find Japan endlessly fascinating and want it to do well.”

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