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Omaha Steve

(98,872 posts)
Tue Jun 24, 2014, 06:47 AM Jun 2014

Japan unveils growth strategy to boost growth

Source: AP-Excite

By ELAINE KURTENBACH

TOKYO (AP) — Japanese Prime Minister Shinzo Abe formally announced Tuesday an outline of his long-awaited growth strategy, a slew of reforms meant to revitalize the economy and restore its global competitiveness.

The plan, approved by the Cabinet earlier in the day, includes dozens of proposed changes to labor regulations, government pension fund investments, corporate governance and tax policies that Abe says are needed to spur corporate investment and innovation.

"We have revved up our growth strategy," Abe told a news conference. "We must do our utmost to ensure this recovery plan reaches all parts of the country."

Abe earlier announced several preliminary version of the growth strategy — dubbed his "third arrow" — he promised along with his first two arrows of monetary and fiscal policies — that have helped drive Japan's recovery since he took office in late 2012.

FULL story at link.


Read more: http://apnews.excite.com/article/20140624/as--japan-economy-7aba1264d5.html

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Japan unveils growth strategy to boost growth (Original Post) Omaha Steve Jun 2014 OP
I would argue that instead of focusing on big business incentives that they should focus on small Victor_c3 Jun 2014 #1

Victor_c3

(3,557 posts)
1. I would argue that instead of focusing on big business incentives that they should focus on small
Tue Jun 24, 2014, 10:51 AM
Jun 2014

business.

Real growth comes with the increase in the size of the middle class which in turn comes with an increase in the number of jobs in those income brackets.

Corporations try to get the most productivity they can out of their middle class sorts of jobs and try to push the burden of the work onto lower paid workers. By focusing on corporations, they're going to create a disproportionately large number of lower income jobs over higher income jobs.

What's better? 30 small mom and pop stores providing 30 families respectable middle class incomes and a smaller proportion of minimum wage jobs or a wallmart supercenter that employs the same number of employees at only minimum wage levels providing substantially lower incomes to everyone?

I'm no economist and perhaps I'm over simplifying the problem here, but our 30+ year focus on corporations is precisely what has created our ever increasing income gap and shrinking middle class.

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