1st Edition

Japan and the Growth-Equity-Small Government Impossible Triangle Lessons from the United States and the Nordic Economies

By Jun Saito Copyright 2024
    268 Pages 69 B/W Illustrations
    by Routledge

    This volume examines and analyzes the current situation of, and the future prospects for, the Japanese economy, particularly in the context of inequality. The country's economy is facing the ageing and the shrinking of its population, both of which will reduce the potential growth rate, which has already become very low.

    By introducing a new policy framework, namely the `Equity-Growth-Small Government Impossible Triangle', based on reviewing, comparing and contrasting the policies of the United States, the Nordic economies and Japan, the book proposes a policy direction that could be pursued by Japan. If Japan wants to sustain growth while preventing inequality to widen and preserve an egalitarian society, there is no other choice but to further promote globalization and innovation and, at the same time, surrender preserving a small government by reforming itself to become a dynamic and resilient welfare state.

    The volume will be an invaluable resource for students, professionals and researchers with an interest in economics, inequality, the Japanese economy and comparative economic policies.

    a) Preface b) List of Abbreviations 1)How Unequal is Japan?  2) Why is Inequality Widening?   

    3) How Has Globalization Taken Place in Japan? 4) How Has Innovation Taken Place in Japan?  

    5) What is the Problem with Japan’s Economic System? 6) How is Aging and Shrinking Population Affecting the Japanese Economy? 7) Wouldn’t Pursuing Growth Widen Inequality? 8) Why Should Japan Address Inequality, and How Can It? 9) What Kind of a Welfare State Should Japan be?  

    10) What Should Japan Do from Here? C) Index  


    Jun Saito is a Senior Research Fellow at the Japan Center for Economic Research. He studied economics at the University of Tokyo and obtained an M.Phil. in Economics from the University of Oxford. He was a government economist at the Economic Planning Agency and the Cabinet Office, where he served as the Director-General of the Economic Research Bureau from 2007-12. During that time, he also worked as an economist at the International Monetary Fund and at the Japan Center for Economic Research. He has held various university posts, including Project Professor, Graduate School of Business and Commerce, Keio University (2012-17), and Visiting Professor, Department of Economics and Business, International Christian University (2016-21).