This book analyzes education in Japan from the viewpoint of the stagnant current Japanese
economy. Tomoyuki Tamagawa a long-time mathematics teacher in junior high school is now a
vice principal. He and Tamotsu Nakamura have written Chapter 1 of this book together because
they believe that the loss of vitality in the Japanese economy is due to the problem of human
capital formation in school education. Shinji Oi has worked for many years at a Japanese
broadcasting station and has extensive experience in human resource development. In Chapter 2
he analyzes the relationship between optimal human capital investment and labor market mobility
based on his recognition of the importance of vocational training or human capital investment
at the firm and the necessity for good allocation of human resources. Tokuji Saita is well
versed not only in the realities and practices in the financial industry but also in the
financial system as a whole. In Chapter 3 based on his long experience in the financial
industry he analyzes and points out the importance of openness of innovation from a
macroeconomic point of view.
