japan's economy - the 'experts' talk
  • A recent lunchtime talk by Motoshige Itoh, Professor, Graduate School of Economics, Faculty of
    Economics, University of Tokyo, and Susumu Takahashi, Chairman, Japan Research Institute,
    both members of prime minister Abe's Council on Economic and Fiscal Policy did little to convince me the people at the top now understand what is wrong with the economy.

    Itoh has in the past said sensible things about the importance of the service industry, and I had had the impression he was Keynesian in his views. Takahashi used to be a convinced Koizumi-ite, certain that 'structural reform' would be the economic panacea.

    Both repeated the Abe mantras of how innovation, de-regulation etc would save the economy. But when Takahashi began to beat the 'fiscal consolidation' drum I realised we were back to Koizumi-ism.




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