September 18, 2018
The Ministry of Economy, Trade and Industry (METI) announces that it decided to establish a 2050 Economic and Social Structure Committee under the Industrial Structure Council, and to hold the first committee meeting on September 21, 2018.
1. Outline of the committee
Japan is expected to face significant changes in economic and social structures by 2050 with the arrival of the era of the 100-year lifespan and a dramatic decrease in the working-age population. In parallel with these changes, Japan will also face other significant changes in industrial and employment structures due to the advancement of the Fourth Industrial Revolution, globalization and other factors.
Due to these structural changes, Japan is required to reform its economic and social systems and to take advantage of the vitality of private companies while convincing the population to make lifestyle and business decisions that reflect such changes so that Japan is able to pass on a sustainable economy and society to the next generation.
As many of the elderly population tend to have very vibrant and active lives, the arrival of the era of the 100-year-lifespan has the potential to lead Japan to further growth. To seize this opportunity, Japan needs to increase the size of the workforce that supports the aging population through a realization of “an ageless society” in which people are able to work more flexibly regardless of age, as long as they have the desire to work.
To this end, METI considers it important to encourage the people to make “smart choices” through applying the Nudge Theory in behavioral economics and enhancing preventive and healthcare incentives.
Against backdrop, METI decided to establish a 2050 Economic and Social Structure Committee under the Industrial Structure Council, and start a series of discussions concerning specific policy measure issues.
2. Future schedule
The first meeting of the committee is scheduled on September 21, 2018. METI will prepare a written report based on the discussion results by summer 2019.
For the list of committee members, see the Appendix attached to the Japanese language press release.
Division in Charge
Industrial Structure Policy Division, Economic and Industrial Policy Bureau