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The Japanese Economic Crisis

  • Authors
  • Jon Woronoff

Table of contents

  1. Front Matter
    Pages i-10
  2. Jon Woronoff
    Pages 11-22
  3. Jon Woronoff
    Pages 23-43
  4. Jon Woronoff
    Pages 45-59
  5. Jon Woronoff
    Pages 61-73
  6. Jon Woronoff
    Pages 75-98
  7. Jon Woronoff
    Pages 99-126
  8. Jon Woronoff
    Pages 127-147
  9. Jon Woronoff
    Pages 149-167
  10. Jon Woronoff
    Pages 169-193
  11. Jon Woronoff
    Pages 195-218
  12. Jon Woronoff
    Pages 219-241
  13. Jon Woronoff
    Pages 243-272
  14. Back Matter
    Pages 273-287

About this book

Introduction

`For years Jon Woronoff has been telling us that far from having devised some miraculous solution to the problems of capitalism, Japan remains vulnerable to crisis. For years he was either patronised or ignored by purveyors of the myth of the `Japanese miracle'. Now, however, the economic `bubble' has well and truly burst, the `miracle' looks more and more tarnished and Woronoff has the grim satisfaction of being able to say `I told you so.' - John Crump, University of York Even while Japan's supporters and apologists boasted of the 'miracle' economy, it was developing weaknesses and flaws which have undermined it. Growth is slowing, the labour force is aging and youngsters lack the old work ethic. Manufacturing is dwindling while inefficient services, distribution and agriculture fester. There are good companies, but many more mediocre ones, and even the best make slim profits. Meanwhile people are tired of long work hours and little leisure, high prices for virtually everything, inadequate housing, amenities and welfare, and a quality of life that is a poor reward for their sacrifices. This adds up to a crisis for many Japanese companies, individuals and society as a whole. It is a crisis that has been spreading rapidly since the collapse of the 'bubble' of the 1980s. And there is little hope that another 'miracle' can overcome the problems and put the economy back on track. More radical change is needed, the sort of change that is most unlikely to occur in Japan. This predicament is well known to the Japanese. But it is inadequately reflected in books for foreigners. That is why Jon Woronoff has written The Japanese Economic Crisis . Again he reveals the problems and failures, the facts and realities that others still miss but are indispensable if you want to understand the true situation.

Bibliographic information