Japan would be better off depressed!

This can be inferred from a speech by Rintaro Tamaki, Deputy Secretary-General and acting Chief Economist of the OECD, who for 35 years worked for Japan´s Ministry of Finance:

The chief economist of the Organization for Economic Cooperation and Development, Rintaro Tamaki, recently gave a talk that should be heard by all Japanese economists and policy makers. He observed that the aim of Japanese economic policy is still mainly about strengthening growth. However, in Europe, the more recent trends in policy strive for reducing inequality(!).

Unfortunately most of Abe’s policies look more to the past than to the future. Repeated attempts to use inflation to restart the economy have produced momentary jumps in growth.

But those little jumps are less beneficial in the long run than improving education, equality and relations with other economies.

Having been at Japan´s MoF for so long made him addictive to “depression”.

2 thoughts on “Japan would be better off depressed!

  1. Pingback: Japan would be better off depressed! | The Corner

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