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Lifetime employment system in japan

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Japan has traditionally had an employment system characterized by a "lifetime" employment relationship between employer and employee and salaries that are based on length of service with the employer-starting low, rising quickly after age 50, and featuring (in addition to a pension) a retirement bonus equal to 3 years of salary. One recent news article on this system stated, "From the perspective of individual incentives, responsibility and performance, it is inefficient and unfair; exceptional work is unrewarded." Use economic theory to comment on this quotation.

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The solution is written in MS word format. it is 150 word argumentative essay regard employee reward system from Japan. The solution is confirmed as the right one for this task.

Reference no: EM1312046

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