IMPORTANT REFERENCE: OHTAKE PAPER
Fumio OHTAKE “Understanding Market Mechanism and Economic Education in Japan”
Global Communications Platform: Opinions (12/08/2008)：http://www.glocom.org/opinions/essays/20081208_ohtake_market/
As the Japanese economy, along with other countries, is being severely affected by the US recession, triggered by the subprime loan problem, there seems to be a widespread opinion in Japan that the American-style market economy has completely failed. Many are now arguing that all regulations in the financial sector should be strengthened since the subprime loan problem was caused by too much deregulation……………………………Given this reality, too much emphasis on the demerits of market competition would be counter-productive. Rather, we should share more positive views on the market system by paying attention to regulations and distribution policies so as to maximize the merits of market competition.
Soichi SHINOHARA “Main Issues on Economic Education”
Global Communications Platform: Opinions (8/25/2008):