Featured Articles II
Contributions of Professor Kato in Economic Policy: Public Choice and Policy Management
2014 Volume 2014 Issue 61 Pages 109-114
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2014 Volume 2014 Issue 61 Pages 109-114
Economic Policies of Professor Kato had been based on Welfare Economics. He was always inspired by the motivation how to increase social welfare of the nations. In 1960s, he advanced his studies to Soviet Economy, while he proved the result of bottleneck in economic management by socialism.
In 1970s, he was involved in government committees on public enterprises in Japan, which were suffered from chronic financial deficits, for inefficient management, and found the same disease in planed economy.
Professor Kato encountered the theory of Public Choice, his interest was focused on non-market decision making mechanisms, which proves performances of agents in political process, lead to political failure.
In 1980s he devoted to some major institutional reforms in Japan. He achieved the requirements for success, affected by the theory of rent seeking and some other models in Public Choice. Furthermore, Pulic Choice has improved its core position in the methodology of Policy Management.
