Japan's Capitalism: Creative Defeat and BeyondJapan's economic reconstruction after total defeat in the Second World War has been an extraordinary phenomenon. Shigeto Tsuru, one of Japan's most eminent economists gives a comprehensive account of the recovery process, and a unique interpretation of the postwar Japanese economy. |
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 |
| 271 | |
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abroad administrative guidance Asahi Shimbun Bank of Japan basic billion yen capital gains capitalist chapter Company corporate cost countries decade demand discussion dollars earlier economic economists Education effect energy enterprises environmental example exchange rate expansion exports fact firms fiscal foreign funds growth accounting growth rate hectares high-growth period important income increase industry inflation institutions investment J.K. Galbraith Japanese capitalism Japanese economy Japanese government Joseph Dodge labor MacArthur major manufacturing March measures Ministry Mission mixed economy National Railroad Nihon Keizai Occupation authorities official oil shock peace percent political postwar Japan prewar price index price revolution price rise problem production property right proposed question ratio reform reparations SCAP sector sewing-machine Shigeto Tsuru social Source Statistics structure Table Tokyo trade treaty trend Tsuru United urban land price West Germany wholesale price wholesale price index zaibatsu