[Ebook] ➢ MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975 Author Chalmers Johnson – Dailytradenews.co.uk

MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975 chapter 1 MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975, meaning MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975, genre MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975, book cover MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975, flies MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975, MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975 ca39c447b1b27 The Focus Of This Book Is On The Japanese Economic Bureaucracy, Particularly On The Famous Ministry Of International Trade And Industry MITI , As The Leading State Actor In The Economy Although MITI Was Not The Only Important Agent Affecting The Economy, Nor Was The State As A Whole Always Predominant, I Do Not Want To Be Overly Modest About The Importance Of This Subject The Particular Speed, Form, And Consequences Of Japanese Economic Growth Are Not Intelligible Without Reference To The Contributions Of MITI Collaboration Between The State And Big Business Has Long Been Acknowledged As The Defining Characteristic Of The Japanese Economic System, But For Too Long The State S Role In This Collaboration Has Been Either Condemned As Overweening Or Dismissed As Merely Supportive, Without Anyone S Ever Analyzing The MatterThe History Of MITI Is Central To The Economic And Political History Of Modern Japan Equally Important, However, The Methods And Achievements Of The Japanese Economic Bureaucracy Are Central To The Continuing Debate Between Advocates Of The Communist Type Command Economies And Advocates Of The Western Type Mixed Market Economies The Fully Bureaucratized Command Economies Misallocate Resources And Stifle Initiative In Order To Function At All, They Must Lock Up Their Populations Behind Iron Curtains Or Other Or Less Impermeable Barriers The Mixed Market Economies Struggle To Find Ways To Intrude Politically Determined Priorities Into Their Market Systems Without Catching A Bad Case Of The English Disease Or Being Frustrated By The American Type Legal Sprawl The Japanese, Of Course, Do Not Have All The Answers But Given The Fact That Virtually All Solutions To Any Of The Critical Problems Of The Late Twentieth Century Energy Supply, Environmental Protection, Technological Innovation, And So Forth Involve An Expansion Of Official Bureaucracy, The Particular Japanese Priorities And Procedures Are Instructive At The Very Least They Should Forewarn A Foreign Observer That The Japanese Achievements Were Not Won Without A Price Being Paid

10 thoughts on “MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975

  1. says:

    Throughout the 1980s, there was a preponderance of books which held up the boogeyman of Japan as a threat to American economic predominance, much like China is today MITI and the Japanese Miracle is one of the first analytic books written in English on the development of the Japanese economy, and thankfully one of the most coherent In most other industrialized economies of the period, the government is regulatory , interfering in markets only to keep them free and competitive The Japanese model subsequently adopted elsewhere in East Asia, including South Korea and Taiwan was of a developmental policy The Japanese government was less of a policeman of the markets but parental in function Government policy was an active part in shaping and advancing economic growth and development, not just in international trade, but also in the domestic markets Now this bureaucracy was interventionist in the economy, but differed from socialist ideology in that it fostered competition in certain areas, such as consumer goods or home appliances, and often cooperate with corporate interests Many of these bureaucrats later shift to the private sector Johnson approaches this issue with a dense history of the technocratic bureaucracy, and how it came to compete with the political establishment by this, I largely mean the Jimint Many members of the bureaucracy were the products of the same elite education system, and his history is largely a shuffling of names and the complicated details of how policy was formed He views this means of policy making not as a consensus based system, but one of conflict, and one with multiple means of influence, ranging from tax policy to investment incentives to technological aid.The later decline of this system came with the lessening importance of heavy industry and the rise of technical industries in the 1980s, but also the end of the real estate bubble in 1990, and the 1994 East Asian crisis This is only a small portion of Johnson s new approach, but rest assured that his book still covers many of the political and economic structures present in modern Japan.

  2. says:

    You probably won t be too pleased to have to read all those names of bureaucrats they really do break up the prose but I think we are all glad that they are there just in case we need to look for them someday An earnest and thorough work that was immune to the frenzy of the Japan as Number One moment in which it was written.How s this for restraint, though Johnson deems it deeply impudent that MITI refers to 1935 1955 as its Golden Era

  3. says:

    Was just thinking about this book today.This was such a lifechangingly good book.Important for anyone interested in economic development, even it talks about the 70s.

  4. says:

    Must read book on development economics which explains how Japanese state directed capitalism led to what became famous as The Japanese Miracle Japanese state interventionist policy came into existence after failed outcome of state controlled economy as well as Laissez faire As the title suggests, book narrates the Japanese development process through evolution of its economic bureaucracy MITI which according to author played central role in Japanese development.State directed economy ensured that national economic interests takes precedence over individual s profit maximizing tendencies Model was simple MITI will identify strategic sectors , ensure maximum capital allocation, technology absorption and provide protection from foreign capital and foreign firms Domestic consumption free from foreign competition allows firms to achieve economy of scale which makes them cost competitive Govt limited competition to 2 3 major players to prevent unhealthy misadventures of free market over capacity and price wars Once firms become internationally competitive , open those sectors to take benefits of international trade and access to foreign markets There is nothing new in Japanese model mostly derived from Alexander Hamilton s protectionism, Friedrich List s nationalist economy and German cartel system.What made Japanese experience unique is successful implementation of model across large number of industries through co operative relationships with private sector who were quite willing for government assistance Johnson categorically rejects popular theory of attributing growth story to Japanese culture of co operation He argues co operation developed as public consensus from historical experiences of poverty and frequent wars Thus, development took precedence over everything else Secondly, MITI as an institution, manned by best talent, showed tremendous flexibility to adopt to changing external economic situations Success of MITI also highlights importance of developing next generation of leaders which provide continuity of policies over decades There are plethora of names mentioned in the book which sometimes become confusing Yoshino and Kishi discovered the policy in 1920s which was carried over to 1960s by their proteges Yamamoto, Tamaki, Hirai, Ishihara, Sahashi and others.However, book remains totally silent on contribution of agriculture in initial phase of industrialization which is a let down because of important role Japanese agriculture had played in laying the foundation of industrialization.

  5. says:

    An excellent, if not disputed and a little dated, introduction to the foundations of the modern Japanese economy.

  6. says:

    This is a classic work in Japanese economic history and political economy in general The details probably exhaust you, but it s an important work.

  7. says:

    I read this as part of studies for my undergraduate degree in Japanese Difficult to understand but a fascinating subject of study I would like to read it again but have long gotten rid of it.

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