Len Schoppa is a professor of politics at the University of Virginia and author of “Race for the Exits: The Unraveling of Japan’s System of Social Protection.” Herman Mark Schwartz is also a University of Virginia professor of politics and is the author of “Subprime Nation: American Power, Global Capital and the Housing Bubble.”

Japan’s ruling Liberal Democratic Party and main opposition Constitutional Democratic Party both have new leaders going into a lower house election on Oct. 27. It is an opportunity for vigorous debate about the future direction of the nation, a time for the parties to compete over which can offer a brighter economic future.