For countries undertaking economic or political reform the case of Italy and Japan is both highly instructive and sobering. The Politics of Structural Reforms reveals what Italy and Japan gained and lost through a series of social and industrial reforms in the 1990s and 2000s, and why the changes they made in their policies have had little impact in softening the recent economic crisis.

In this innovative book, Hideko Magara brings together an expert team to explore both the possibilities and difficulties of transitioning from a neoliberal policy regime to an alternative regime through drastic policy innovations. The editors argue that, for more than two decades, citizens in developed countries have witnessed massive job losses, lowered wages, slow economic growth and widening inequality under a neoliberal policy regime that has placed heavy constraints on policy choices.