Japan is lagging behind many other countries when it comes to innovation.
For Heizo Takenaka's latest contributions to The Japan Times, see below:
The government's challenge will be to put together a spending package that shores up consumer spending and increases the economy's growth potential.
The adoption of a social security policy for the purpose of a competition policy must be avoided.
The Cabinet must pursue management of the economy that will achieve near-term stimulus and medium- to long-term growth.
Despite past reforms, the bureaucracy continues to wield strong influence over policy decisions today.
The Abe administration has secured a stable political footing, but is now confronted with major challenges in its economic policies.
The government needs to make information about the public pension system more transparent and easy to understand.
Japan must not underestimate the cost that the U.S.-China confrontation could bring.
As we brace for the Reiwa Era, we must be ready to take on structural reform of the economy as well as administrative and fiscal reforms of a much larger and broader scale than took place in Heisei.
Labor system reforms have the potential to pave the way for greater roles for elderly workers in the workforce.