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Voodoo Abenomics

Japan's Failed Comeback Plan

Author: Richard Katz, Senior Editor, The Oriental Economic Report
July/August 2014
Foreign Affairs

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Imagine the predicament currently facing a growing number of Japanese men in their early 30s. Despite having spent years cramming in high school and attending good colleges, many can't find a full-time job at a good company. Since Japan's rigid labor laws make it nearly impossible to lay off permanent employees in downtimes, companies now tend to fill open slots with part-time or temporary workers, and they typically pay them a third less.

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