Date of this Version
Abenomics is a term that encapsulates the current fiscal, monetary, and structural policies that the Central Bank of Japan and the Japanese Government are jointly pursuing in an effort to reinvigorate the economy under the tenure of Prime Minister Shinzo Abe. This research paper is dual-focused. First, it will layout the policies that Japan is undertaking in pursuit of these measures. Towards that end, it will delve into the specific methodologies that the Central Bank of Japan and the Japanese Government are pursuing to stimulate the economy. The paper will explain the specific measures that are being pursued, and explain the dramatic implications of such pursuits. We will then opine on both the results and the broader implications going forward from an economic point of view. After the financial implications are explained, we will shift to the ethical implications of such policy measures. Evaluating Abenomics under Normative, Utilitarian, and Rights-based Approaches will lead to varying conclusions as to the ethicality of such pursuits. The findings on both of these fronts will be evaluated, and the implications going further will be assessed. Given the relatively new implementation of Abenomics, there has not been extensive research done on the economic significance of the policy, although there has been some that is still in its working-paper stages. With respect to the ethical implications, there have not been any substantive academic papers published. This research attempts to explore what has, up to now, been unchartered territory. The central research question that this paper intends to answer is to what extent Abenomics can impact substantive economic change and to what extent are the measures being pursued ethical.
abenomics, monetary policy, Japan
Date Posted: 28 October 2014