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Japan, the system that soured : the rise and fall of the Japanese economic miracle by Katz, Richard, 1951- is a book available to read on EtoBox.

What is Japan, the system that soured : the rise and fall of the Japanese economic miracle about?

After seven long years of economic malaise, it is clear that something has gone awry in Japan. Unless Japan undertakes sweeping reform, official forecasts now warn, growth will steadily dwindle. How could the world's most acclaimed economic miracle have stumbled so badly? As this important book explains, the root of the problem is that Japan is still mired in the structures, policies, and mental habits of the 1950s-1960s. Four decades ago while in the "catch-up" phase of its economic evolution, policies that gave rise to "Japan, Inc". made a lot of sense. By the 1970s and 1980s, when Japan had become a more mature economy, "catch-up economics" had become passe, even counterproductive. Even worse, in response to the oil shocks, Japan increasingly used its industrial policy tools. not to promote "winners", but to shield "losers" from competition at home and abroad. Japan's well-known aversion to imports is part and parcel of this politically understandable, but economically self-defeating, pattern. The end result is a deformed "dual economy" unique in the industrial world. Now this "dualism" is sapping the strength of the entire economy. The protection of the weak is driving Japan's

Author

Katz, Richard, 1951-

Publisher

Armonk, N.Y. : M. E. Sharpe

Published

1998

Language

EN

ISBN

9781317467175

Subjects

Business, Economics, Political Science