Economic crisis tends to spur change in the 'rules of the game' -
the 'institutions' - that govern the economic activity of firms and
employees. But after more than a decade of economic pain following
the burst of the Japanese Bubble Economy of the 1980s, the core
institutions of Japanese capitalism have changed remarkably little.
In this systematic and holistic assessment of continuity and change
in the central components of Japanese capitalism, Michael A. Witt
links this relatively slow rate of institutional change to a
confluence of two factors: high levels of societal co-ordination in
the Japanese political economy, and low levels of deviant behavior
at the level of individuals, firms, and organizations. He
identifies social networks permeating Japanese business as a key
enabler of societal co-ordination and an obstacle to deviancy, and
sheds light on a pervasive but previously under explored type of
business networks, intra-industry loops. Includes a Foreword by
Gordon Redding.
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