Wanted: Startup nation Japan | The Japan Times
4 March 2019 5:29 AM GMT
Fostering greater entrepreneurship is the best way for Japan to achieve sustained economic growth.
- In fact, monetary policy stands particularly exposed to diminishing rates of returns of its actions: Ten years ago, ¥1 created by the Bank of Japan generated ¥10 of national income or GDP, but today the same ¥1 from the central bank creates only ¥1 of GDP.
- Specifically, during the six years of Abenomics (end of 2012 to end of 2018), total non-farm employment rose by 4.3 million people, from 60.4 million to 64.7 million.
- By age of company, companies older than 50 years actually cut approximately 5.1 million employees, while companies set up five years ago (during or after 2013) created approximately 1.8 million new jobs; and a total 4.8 million jobs were created by entrepreneurs who started their corporate adventure within the past decade.
- Corporations age 10-50 years generated a strong 4.6 million new jobs.
- Meanwhile, the fact that the companies 50 years or older are huge job destroyers is very worrying.
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