Opinion: September 3, 2007
"Today's Disparities Echo Yesterday's 'Dual Structure'"
Masahiko ISHIZUKA (Councilor for the Foreign Press Center Japan and
a Lecturer at Waseda University)
http://www.glocom.org/opinions/essays/20070903_ishizuka_today/
Despite economic growth, source of societal gap
Not so dissimilar to what I have been saying. Anthony
Look who's back in the passing lane
Sanford M. Jacoby International Herald Tribune
FRIDAY, MARCH 17, 2006
LOS ANGELES, California The American auto industry is reeling from the news that General Motors and Ford are sharply sc
"The prolonged economic stagnation had less to do with inherent flaws in the
Japanese system than with inept governmental responses to the 1989
stock-market crash and subsequent banking crisis."
CB; Oh sure, the market system would have given continuous, flawless
economic wonderfulness, if on
I agree with Walt. Charles you are misreading the piece. But yes, I
remember how the NYT was gloating at Japan's recession throughout the 1990s,
with a I-told-you-so attitude.
cheers, a
CB: Maybe. Here's the paragraph. It seems to say the economic stagnation
"had more to do" with "inept go
The question is "what is the Japanese system"? It is a system of
regulation (of which the state is only one actor). Regulation in the end is
a social and political institutional process and product. Thus life time
employment is a corporate form of regulation, of stabilizing the labor
market, and
Jacoby is usually very solid. Is he correct that Japan only made
modest contributions to neoliberalism? I thought that the financial
system was very compromised.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail michael at ecst.csuchic
My suspicion is that banks were compromised because of the large debts that they carried.
However, because of the large domestic market, government bailouts, and the willingness
of Japanese consumers to pay high prices and be "socially" sensitive to job
protection in myriad forms banks are sti
That seems to be the opposite of what the article was saying. Especially
because a few paragraphs down it defined the japanese "system" as being
more interventionist than others.
>
> CB; Oh sure, the market system would have given continuous, flawless
> economic wonderfulness, if only there ha
I agree with Walt. Charles you are misreading the piece. But yes, I
remember how the NYT was gloating at Japan's recession throughout the
1990s, with a I-told-you-so attitude.
cheers, a
xxx
Anthony P. D'Costa, Professo
The question is "what is the Japanese system"? It is a system of
regulation (of which the state is only one actor). Regulation in the end
is a social and political institutional process and product. Thus life
time employment is a corporate form of regulation, of stabilizing the
labor market, an
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