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Japan Remodeled - How Government and Industry Are Reforming Japanese Capitalism (Paperback)
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Japan Remodeled - How Government and Industry Are Reforming Japanese Capitalism (Paperback)
Series: Cornell Studies in Political Economy
Expected to ship within 12 - 17 working days
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As the Japanese economy languished in the 1990s Japanese government
officials, business executives, and opinion leaders concluded that
their economic model had gone terribly wrong. They questioned the
very institutions that had been credited with Japan's past success:
a powerful bureaucracy guiding the economy, close
government-industry ties, "lifetime" employment, the main bank
system, and dense interfirm networks. Many of these leaders turned
to the U.S. model for lessons, urging the government to liberate
the economy and companies to sever long-term ties with workers,
banks, suppliers, and other firms.Despite popular perceptions to
the contrary, Japanese government and industry have in fact enacted
substantial reforms. Yet Japan never emulated the American model.
As government officials and industry leaders scrutinized their
options, they selected reforms to modify or reinforce preexisting
institutions rather than to abandon them. In Japan Remodeled,
Steven Vogel explains the nature and extent of these reforms and
why they were enacted.Vogel demonstrates how government and
industry have devised innovative solutions. The cumulative result
of many small adjustments is, he argues, an emerging Japan that has
a substantially redesigned economic model characterized by more
selectivity in business partnerships, more differentiation across
sectors and companies, and more openness to foreign players.
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