Until the 1990s economic crash everyone thought that Japan will become an economic powerhouse.
And we in the U.S. might better appreciate immigration.. . . A Keynesian response would help too but fundamentally Japan needs a way bigger population to have a larger GDP. . .
They need a larger population. Also could take actions to boost productivity a bit, Japan lags behind the U.S. and France in productivity per hour for instance. ...
Ironically Japan got prosperous by adopting Western management techniques...The best part of that era was listening to pseudo-intellectual management gurus explain how western companies could all become super-prosperous by adopting Japanese management techniques.
Japan is the world's 3rd largest economy. How are they not a powerhouse?
Absolutely false. America was the largest economy from 1890 until just a few years ago when it was overtaken by China.By GDP PPP, it was the largest economy from about 1985-1995. I guess maybe this thread is really asking to prevent the bubble and how much bigger could Japan get?
Absolutely false. America was the largest economy from 1890 until just a few years ago when it was overtaken by China.
Yes, but Detroit did not listen to Ed DemingIronically Japan got prosperous by adopting Western management techniques...
https://en.wikipedia.org/wiki/W._Edwards_Deming#Work_in_Japan
I think there’s a Dwight Eisenhower quote, plans are useless, but planning is essential.. . they should have been foreseeing internet shopping in 1980. .
Actually we became the largest economy by GDP PPP in the 1870s; I was indeed wrong on the Japan factoid, read my chart wrong.
No, they got prosperous by adopting Western technology.Ironically Japan got prosperous by adopting Western management techniques...
https://en.wikipedia.org/wiki/W._Edwards_Deming#Work_in_Japan
Such as, what, the transistor? Adopting western tech is only part of the equation, they needed a competitive advantage beyond simply trying to copy foreign innovations.No, they got prosperous by adopting Western technology.