Obama’s Economic Policy and entrepreneurship: Lessons to Japanese Economy

Here are some questions you can often find on Japanese business magazines. Why are there fewer entrepreneurs in Japan? Why is there no Steve Jobs? Is it because we are less creative? Is it because we are more conservative in terms of work style and job hunting? But why are we conservative in the time of highly competitive economy? My goal of this research is to investigate how Obama’s economic policies, such as The American Recovery and Reinvestment Act and Jumpstart Our Business Act, changed US economies and expectations of voters, and to learn tips to actively boost Japanese economy.

As we all know, after the bankruptcy of Lehman Brothers in 2007, we are in a serious recession and having harder time to find jobs. According to IMF, the unemployment rate is 9.93 % in France, 8.16% in the US and 4.5% in Japan. Though Japan has relatively lower unemployment rate, it got higher comparing with the 3.85% in 2007. Also, because lots of women decide to stop working and stay at home when they get fired, there would be more people who are eligible for work but give up looking for it. Therefore, establishing a stable job market is crucial and Japan needs urgent economic reform and strong leaders who can show the path to follow. In fact, during the administration of Prime Minister Koizumi in early 2000s, startup companies got popular, but the boom ended with the termination of the administration in 2006. In this paper, I would like to find out the reasons why it did not work out in Japan by comparing with Obama’s Startup America Initiative Program.

Some challenges of this research will be selections of industries to save, which relate to the role of Government. The failure in the recovery is partially because automation of manufacturing and they do not need more employees than before. In economic perspective, it is more reasonable to outsource manufacturing jobs to China or establish new industries; however, losing Auto Industry means something to Americans from a socio-cultural perspective.

Lastly, I am one of the international fellows from Japan. I’d like to contribute to this program by giving some thoughts from “what do non-Americans think about that?” perspectives. Hopefully that will help you to find some insights for your research.

Mutsumi Yoshikawa
Ritsumeikan University

This entry was posted in 2012-2013 General. Bookmark the permalink.

One Response to Obama’s Economic Policy and entrepreneurship: Lessons to Japanese Economy

  1. Hi Mutsumi—It’s nice to “meet” one of the international fellows from Japan! It will definitely be great to get an international perspective on the work we’ll all be doing.

    Your research topic sounds really interesting—best of luck with it! I’ll look forward to meeting you in DC in November.

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