The challenge now is to devise a recovery strategy that recognizes the implications of today’s global economic interdependence.
For Koichi Hamada's latest contributions to The Japan Times, see below:
Higher levels of immigration may help to explain why U.S. GDP growth often exceeds that of Japan.
While Lawrence Summers may be overstating the inflation threat, a careful review of Joe Biden’s stimulus plan along the lines he proposes is probably a good idea.
The COVID-19 pandemic and environmental threats will hopefully fuel demands for greater social solidarity.
There's reason to hope that the COVID-19 crisis will catalyze a shift toward more just societies
Economies like Japan will have little choice but to pursue post-pandemic monetary expansion.
Fiscal, not monetary measures, should be when disasters and epidemics strike.
In the 1980s and 1990s, people were acutely aware of inflationary risks, whereas economic actors today may be setting their expectations based on a different set of considerations.
It's unwise to burden a battered economy with higher taxes.
US President Donald Trump's trade war with China is driven at least as much by anxiety over China's rise as by economic rationality. That kind of insecurity can have disastrous consequences.