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Overview
When Why Has Japan 'Succeeded'? (1982) was published, Japan was still a country of "capitalism from above". For the past ten years the country's economy has faltered and declined. It is turning towards 'capitalism from below' despite Japan's weak democracy. This directional change is investigated through a variety of standpoints, using an in-depth knowledge of the Japanese ethos, national history, educational background, as well as the sociology of the Japanese economy and business world. The author offers a long-term forecast for the future of Japan.
Synopsis
When Why Has Japan 'Succeeded'? (1982) was published, Japan was still a country of "capitalism from above". For the past ten years the country's economy has faltered and declined. It is turning towards 'capitalism from below' despite Japan's weak democracy. This directional change is investigated through a variety of standpoints, using an in-depth knowledge of the Japanese ethos, national history, educational background, as well as the sociology of the Japanese economy and business world. The author offers a long-term forecast for the future of Japan.
Booknews
Economic theoretician and historian Morishima (London School of Economics) looks beneath the real-estate speculation that fueled the Asian crisis of the 1990s to find a radical change in the nature of capitalism in Japan. In the 1980s, he explains, the economy was ruled by the government and large companies, and small companies had a difficult time because they were under the strict control of parent companies. A decade later, individual, small companies, and banks were borrowing money against their small plots to buy large plots, signalling a milepost in the tough road to capitalism from below. Annotation c. Book News, Inc., Portland, OR (booknews.com)