Keiko Shimono

Japans Budget Black Hole (eBook, ePUB)

Deregulation of the Workforce and Shortfalls in Government Revenue

• Format: ePub

Produktbeschreibung

This book describes the astonishing policy failures of populist politicians in Japan. Focussing on popular tax cuts in Japan as a salutary case study, the book details their serious side effects: government debt, cuts to social security expenditure, inadequate public services and even the potential for a national default. The book argues that the only way to maintain a tolerable level of social services is to increase taxation because a government burdened by massive debt levels is unable to respond adequately to a serious threat such as Covid-19.

The book then examines the role of the workforce to economic growth. Due to the dominance of conservative political forces over a long period, workers' protections in Japan are limited, and deregulation of the workforce has led to a decline in wages since 1997. Declining wages and a reduction in social security expenditure have inevitably led to lower consumption and lower economic growth. This examination leads to the conclusion that the way forward is to restore taxation to a sustainable level, which is necessary in order to reduce government debt, to increase expenditure on social security, education, and other essential services, and to combat growing inequality. Only by redistributing income to those who need it and will spend it, consumption will increase, and the economy will grow.

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Produktdetails

• Verlag: Anthem Press
• Seitenzahl: 272
• Erscheinungstermin: 18. Januar 2021
• Englisch
• ISBN-13: 9781785276187
• Artikelnr.: 62656883

Autorenporträt

Shimono Keiko is a policy-oriented economist whose work is based on Keynesian theory and statistical data analysis, focusing on economic growth, labour issues, inequality, social security and government.

Inhaltsangabe

List of Figures
List of Tables
Preface
Introduction
1. The Purpose of This Book
2. The Structure of This Book
3. Things the Reader Should Be Aware of
Part I Budget Deficits Caused by Tax Cuts, and the Risk of Financial Collapse
Chapter One The Causes of Japan's Government Debt
Chapter Two The Consequences of a Possible Financial Collapse
Chapter Three The Theory behind this Book: Economic Growth through Wage Growth and Redistribution
Part II How Cuts to Public Services Affect People's Lives
Chapter Four Japan's Preference for 'Small Government'
Chapter Five The Bottlenecks Caused by Cuts to the Public Service and Reductions in Social Security Expenditure
Part III Increasing Income Tax as an Alternative Solution
Chapter Six Income Inequality Resulting from Tax Cuts
Chapter Seven Enlarging the Tax Base to ensure a Fair Tax and Social Security Burden
References
Index.