Policy-Induced Growth and the Older Generation

Yasukichi Yasuba

Japanese Economy, 1979, vol. 7, issue 3, 30-70

Abstract: When there was a rise of antigrowth thinking around 1970 many people argued that postwar Japan had been preoccupied with rapid economic growth at the sacrifice of welfare and that henceforth welfare rather than growth should be emphasized. (1) In this paper I shall examine the meaning of the question of "growth or welfare" and demonstrate that, if there had been a sacrifice made as a result of policy-induced growth, it was not welfare in general but mainly the welfare of the older generation.

Date: 1979
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DOI: 10.2753/JES1097-203X070330

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