Reiko Aoki

About Reiko Aoki

Reiko Aoki is director of the Centre for Intergenerational Studies and professor of economics at the Institute of Economic Research, Hitotsubashi University, Tokyo, Japan. Her research interests include the political economy of aging societies, innovation and the economics of patents. She is interested in designing institutions that allocate resources between generations of people, firms and technologies in such a way as to maximize welfare. She received her PhD in economics from Stanford Univesrity and has taught in the US, Israel, and New Zealand.

Japan Must Lead the Way to Where no Society has Gone Before

Japan seems to be finally rising out of the so-called “lost decades”. The turn-around is result of a completely new economic policy. Japan must change its social institutions, and perhaps values, in order to complete the transition. The change also requires Japan to go boldly where no society has gone before by building new economic and political institutions. Japan has the lowest fertility rate in the world, and the highest life expectancy. This implies it is aging faster than any other nation on earth. However, the country’s social systems were established in the years immediately following World War II and suited a very young and growing population. Continue reading