"Prime Minister Kishida Fumio wants Japan to lead the world with the creation of a new form of capitalism, one that will correct the problems arising from neoliberalism. He has been advancing this idea as one of his banner policies since his campaign for the premiership last autumn. So far, however, there is little novelty to be seen in the content of his “new capitalism.” As the administration seeks to flesh out the prime minister’s proposal with concrete policies over the months to come, it needs to reconsider its position on issues like income redistribution, and it should stop repeating the mistakes of previous administrations."