Japan's Capitalism: Creative Defeat and Beyond

Front Cover
Cambridge University Press, May 28, 1993 - Business & Economics - 277 pages
Japan's defeat in the Second World War was total, but her subsequent reconstruction was extraordinary. In this compelling book, one of Japan's most eminent economists gives a comprehensive account of the recovery process, and a unique interpretation of the post-war Japanese economy.
 

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Contents

The defeat and the Occupation reforms
7
2 The initial occupation policy of the US
11
3 The initial reform ideas on the Japanese side
14
4 The Occupation reforms
18
The road to recovery
37
2 Arresting of inflationary trends
44
3 Setting of a single exchange rate
48
4 The Korean War and the aftermath
54
4 Reflection on the welfare content of GNP index
138
The double price revolution
147
2 The classical case of price revolution
148
3 The consequences of the oilshock price revolution
150
4 Price revolution in urban land
158
5 Major causes of price revolution in land
164
6 The socioeconomic consequences of the landprice revolution and the countermeasures
169
7 Macroeconomic mismanagement
176

5 The peace treaty
59
The period of high growth rate
66
2 Capitalism rejuvenated
71
3 Whence the effective demand?
77
4 Transformation of industrial structure
87
The role of the government in the highgrowth period
90
2 Administrative guidance
96
3 Reclamation for factory sites
101
4 Special taxrelief measures for industries
104
5 The lowinterestrate policy
108
6 The temporization of the trade and capitalinflow liberalization
112
7 Subsidies on water and electricity
115
A turning point cometh
119
2 The structural creeping inflation
123
3 Environmental concerns heightened
129
The march of corporate capitalism
181
1 Capitalism triumphant?
182
2 A new stage of corporate capitalism in Japan
184
3 The globalization trend
192
4 Privatization
205
Whither Japan?
212
1 The trend toward convergence of the two systems
213
2 The mixed economy as a mode of production
216
3 The prospect for the Japanese economy and Japans role in the world
224
Notes
236
Bibliography
261
Series editors note
267
Index
271
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