Comparative Capitalism: The Japanese Difference

See Passell Peter , “Economic Scene,” New York Times, December 17, 1992 (where Tyson is said not to be among the “wisest economic heads” of this generation); Fallows James , “Commentary,” National Public Radio. January 5, 1993; Risen James , “Economists Watch in Quiet Fury.” Los Angeles Times, January 8, 1993; and Amsden Alice H. , “From PC. to E.C.: Now, Economic Correctness,” New York Times, op-ed., January 12, 1993. For excerpts from Tyson's columns as a member of the Los Angeles Times' Board of Economists, see Los Angeles Times, December 20, 1992.

The economists also attacked Robert Reich, Clinton's appointee as secretary of labor, because he does not have a Ph.D. in economics but was trained as a lawyer. See Uchitelle Louis , “Clinton's Economics Point Man,” New York Times, November 21, 1992. It seems never to have occurred to either the economists or the journalists taking down their complaints that one place on earth where national economic policy is made by lawyers and where economists are asked to keep their distance is 1-3-1 Kasumigaseki. Tokyo, the headquarters of Japan's Ministry of International Trade and Industry (MITI).

Johnson Chalmers Tyson Laura D'Andrea Zysman John , eds., Politics and Productivity: How Japan's Development Strategy Works (New York, NY: Harper Business, 1989).

Krugman Paul R. , “What Do Undergrads Need to Know About Trade?” (Cambridge, MA: M.I.T., n.d.), typescript, 10 pp.

These are titles of influential books. See Pascale Richard Athos Anthony , The Art of Japanese Management (New York, NY: Warner Books. 1981); Clark Rodney . The Japanese Company (New Haven, CT: Yale University Press. 1979); and Gibney Frank , The Pacific Century (New York, NY: Scribner's, 1992).

Pyle Kenneth B. , The Japanese Question: Power and Purpose in a New Era (Washington, D.C.: AEI Press, 1992), p. 43.

Bergsten C. Fred , “The World Economy After the Cold War.” California Management Review, 34/2 (Winter 1992): 53.

“The Purging of Japan,” The Australian. April 11–12, 1992, p. 19.

Curran John J. , “Why Japan Will Emerge Stronger,” Fortune, May 18, 1992.

Hoshino Shinyasu , “The Japanese Model: Maturing ‘Miracle,’” N1RA Library: International Crossroads, May 1992.

Shimada Haruo , “‘Jyapan moderu’ wa shinazu” [The “Japan Model” Will Not Die], Shunju Bungei (February 1992), pp. 138–149. Also see former Foreign Minister Saburo Okita, “Japan's Catch-up Capitalism.” World Link (September/October 1992), pp. 27–29.

See Shimada Haruo , “Japan's Industrial Culture and Labor-Management Relations,” in Kumon Shumpei Rosovsky Henry , eds., The Political Economy of Japan: Cultural and Social Dynamics (Stanford, CA: Stanford University Press, 1992), pp. 267–291.

Bungei shunju (February 1992), p. 148.

World Bank, Press Release No. 16, October 15, 1991, p. 6.

“Japan Wants Strings on Aid: At Odds with U.S., Tokyo Urges Managed Economics,” International Herald Tribune, March 9, 1992. In its 1991 World Development Report, die World Bank for the first time allowed the possibility of “market-friendly state intervention.” It also authorized several major studies, funded by the Japanese, on why this idea was no longer heresy.

Morita Akio , “‘Nihon-kata keiei’ ga abunai” [“Japanese-style Management in Danger”], Bungei shunju (February 1992), pp. 94–103.

“Corporate Values Reassessed,” Japan Update (June 1992), p. 9.

Katayama Osamu , “Nihon-kata keiei wa machigatta ka” [“Is Japanese-Style Management Mistaken?”], Voice (May 1992), pp. 82–112.

Bungei shunju (February 1992), p. 97.

Bungei shunju (April 1992) pp. 176–193.

Voice (May 1992), pp. 106–109.

Bungei shunju (April 1992), pp. 176–193.

Transcript of interview given by Senior Minister Lee Kuan Yew to James Impoco, Tokyo Bureau chief of US News & World Report, August 27, 1992.

(Tokyo: Nihon Seisansei Honbu, 1983); translated as The Rise of the Japanese Corporate System: The Inside View of a MITI Official, Elliott Thomas I. , translator (London: Kegan Paul International, 1991). Quotations are taken from the English translation.

Bungei shunju (February 1992), pp. 138–139.

In Japanese. Shimada's terms are, “sangyo no ikusei, shido, kantoku.” Ibid., p. 145.

McCraw Thomas K. , “The Trouble with Adam Smith,” The American Scholar (Summer 1992), p. 371.

Amaya as quoted by Prestowitz Clyde V. Jr. , “Beyond Laissez Faire,” Foreign Policy, 87 (Summer 1992): 80. On the distinction between producer economics and consumer economics, see Thurow Lester , Head to Head: The Coming Economic Battle Among Japan, Europe, and America (New York, NY: Morrow, 1992), pp. 113–151.

Zielinski Robert Holloway Nigel , Unequal Equities: Power and Risk in Japan's Stock Market (New York, NY: Kodansha International, 1991), p. 12. On the financial dimensions of comparative capitalism, also see Porter Michael E. , “Capital Disadvantage: America's Failing Capital Investment System,” Harvard Business Review (September/October 1992): 65–82.

Kester W. Carl Luehrman Timothy A. , “The Myth of Japan's Low-Cost Capital.” Harvard Business Review (May/June 1992): 135.

Fingleton Eamonn , “The Gaijin and Gyosei Shido,” Institutional Investor (October 1990): 71–76.

Sakakibara Eisuke Noguchi Yukio , officials of the Ministry of Finance, quoted by Pyle , op. cit., p. 43.

Gourevitch Peter , Politics in Hard Times: Comparative Responses to International Economic Crises (Ithaca, NY: Cornell University Press, 1986), p. 238. Cf. Kesselman Mark , “How Should One Study Economic Policy-making?” World Politics, 44/4 (July 1992): 645–672.

Castells Manuel , “Four Asian Tigers with a Dragon Head: A Comparative Analysis of the State, Economy, and Society in the Asian Pacific Rim,” in Appelbaum Richard P. Henderson Jeffrey , eds., States and Development in the Asian Pacific Rim (Newbury Park, CA: Sage Publications, 1992), p. 56.

Ibid., p. 57.

The American Scholar (Summer 1992), p. 371.

Lind Michael , “The Catalytic State.” The National Interest (Spring 1992), pp. 3–12.

Kurth James , “Things to Come: The Shape of the New World Order,” The National Interest (Summer 1991), p. 11.