Ethics & International Affairs Volume 2 (1988): Articles: The Japanese Political Economy: A Crisis in Theory [Abstract]

Late 1980s economic theory failed to account for Japanese-style economies. Leading thinkers ignored the success and achievements of these systems by passing them off as exceptions due to "cultural uniqueness," or by altering the facts to fit their theories. Chalmers Johnson argues that the success of the Japanese economy is neither random nor a function of culture but due to policy, particularly to Japanese industrial policy.

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