by Yoshihiro Hara
Hayato Ikeda is the 58th, 59th and 60th Prime Ministers of Japan. He changed Japanese economy and society. His famous policy is Income Doubling Plan. This plan is to double the gross domestic product within ten years and to promote economic growth centered on tax cut, social security and public investment.
In fact, the plan succeeded in the doubling gross domestic product in just four years, which greatly enriched the life of people. In addition, he decided change the Japanese economy to an open economic system. For example, he raised the trade liberalization rate from 42 percent to 93 percent, adapted IMF’s Article 8 and made Japan a member of the OECD.
These encouraged positive participation in Japan’s free trade system. The biggest international event that took place when he was prime minister was the Tokyo Olympic in 1964.
Along with that, the transportation network, cities and living environment were improved and people’s lives became more fulfilling. He is one of the most successful prime ministers of Japan.
He made major renovation to bring Japan into a member of the developed world. I want to work on new things without fear of failure like him. His policy then greatly developed the Japanese economy and society.
