Latest / The Productivity Podcast with Fexingo: Output, Efficiency, and Long-Term Economic Growth
How Japan Solved Its Lost Decade Productivity Stagnation
For decades, Japan was the cautionary tale of productivity stagnation — flat output per worker from 1991 through 2012 while the rest of the developed world grew. But starting around 2013, Japanese productivity quietly began to climb again. In this episode, Lucas and Luna drill into one specific explanation: the shift from 'lifetime employment' labour hoarding to a more dynamic labour market that reallocated workers from low-productivity retail and construction into higher-productivity manufacturing and business services. They walk through the data — Japan's productivity grew at…
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