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In her introduction for JapanVs Secular Stagnation and Beyond, Radhika Desai concludes,“Each of the writers suggests that a resolution would require a significant paradigm change. All of these imply some sort of socialism.” Considering this topic’s importance, we organized international symposiums on secular stagnation as a new great depression. Because of the time differences, the symposiums were divided into two parts, with speakers in Japan and North America on March 26, 2023, and speakers in Europe and Asia on May 27, 2023. This special issue is based on the Symposium on Secular Stagnation as a New Great Depression, Part One.

This introduction includes (1) the Musashi International Symposium on Secular Stagnation as a New Great Depression,(2) an introduction to the JPE special issue on secular stagnation as a new great depression, and (3) an obituary of Professor Makoto Itoh, one of the …