For weeks, Japanese Prime Minister Junichiro Koizumi insisted that he would name a "dedicated inflation fighter" to head the Bank of Japan. Instead, he has chosen a man steeped in the BOJ's conservative ways. Mr. Koizumi's timidity is not personal but, says Deepak Lal, reflects the stifling irresponsibility of Japan's political structures.
For weeks, Japanese Prime Minister Junichiro Koizumi insisted that he would name a "dedicated inflation fighter" to head the Bank of Japan. Instead, he has chosen a man steeped in the BOJ's conservative ways. Mr. Koizumi's timidity is not personal but, says Deepak Lal, reflects the stifling irresponsibility of Japan's political structures.