This chapter explores the labor force participation rate in countries like the USA and Japan, discussing the reasons for low rates and the potential impact on economic output. It also examines the option of increasing the population to drive economic growth and the challenges faced by Japan in attracting people from other countries.
Japan's economy has been stagnant for 2 decades, and while some economists look at this as an outlier, it might be something that just happens to all advanced economies, and Japan just got there first. After suffering the "lost generation", can Japan come back and recover growth, or is their fate one we will all eventually reach?
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