Prime Minister Kishida’s “New Capitalism” for Japan

Jana-Larissa Grzeszkowiak

Chapter 4 in Geopolitical Uncertainty and International Business, 2024, pp 59-68 from Edward Elgar Publishing

Abstract: With the inauguration of Prime Minister Kishida in 2021, a policy shift away from his predecessors’ policy package known as Abenomics was announced, and this new policy package was labeled as “New Capitalism” for Japan. Despite this sonorous name, the explicit idea behind it remained unclear for a long time. With the first Action Plan under the Kishida administration, the term became filled with some content and Kishida’s vision became more tangible. The Action Plan is a qualitative description rather than giving quantifiable measures. This fueled initial criticisms about his “New Capitalism” drive, then silencing early critics. To understand the conception of Kishida’s “New Capitalism” better, this chapter examines the Action Plan and it contrasts the new idea with older policies.

Keywords: Business and Management; Economics and Finance; Geography; Politics and Public Policy (search for similar items in EconPapers)
Date: 2024
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