Of course, the demand for labor that is consistent with a particular rate of output growth also could be lowered if productivity growth were to increase more. And, on the supply side of the labor market, faster growth of the labor force could emerge as the result of increased immigration or delayed retirements.
Today, I would like to offer you some thoughts on how to create or enhance the conditions that would be conducive to increasing public welfare, by embracing financial innovation, as well as the advancement of futures markets in Japan. For this purpose, I need to reflect on our experiences of the recent Great Financial Crisis.