what-japans-restructuring-missed-a-social-security-net

What Japan's restructuring missed: a social security net

Barely a decade after stripping hundreds of thousands of workers of their social status and benefits, the current recession in Japan is putting labour protection back in the spotlight.

Must Japan always lag First, it lagged in neo-liberal capitalism. Then it caught up with the Reagan and Thatcher revolutions 20 years late and deregulated the labour market in the 1990s and early 2000s. Now, it is scrambling to protect its newly 'casualised' labour force after hitting the worst recession since 1945. According to figures from the Japan Manufacturing Outsourcing Association quoted by Bloomberg News, 40,000 'casual' jobs are forecast to go by March -- at a time when unemployment has already hit 4%.

Under pressure to deleverage following the epic 1980s asset bubble, and pushed by Wall Street ideas of corporate governance where shareholder returns are the only God, Japanese firms merged...

¬ Haymarket Media Limited. All rights reserved.

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