Japanese Economic Success Post Wwii

"Japanese economic success is based on the ability to fuse the best of the west with the powerful traditions underlying Japanese life". The success of Japan in the world free market and its rapid ascension to the ranks of the worlds most powerful is subject to much debate. Having stagnated in isolation until the arrival of Commodore Perry in 1853 and suffering a massive blow to the economy following the loss of World War II, the success of the Japanese Economy is attributed to a number of factors. These range from the breakdown of social class by the creation of the Conscript Army and its victory over the Satsuma Rebellion through to the manufacturing of an artificially low and stable interest rate after WWII to stimulate venture capital . Yet most of these individual factors can be attributed to the rapid importation of western social theory, technology and economic practices and the combination of these with traditional values of Bushido, State Shinto and Japanese Tradition . The main exceptions to note is that the majority of reform came from the upper echelons of society; which in Japan meant the government. In contrast the majority of European reform came from the middle up, the signing of the Magna Carta, the October Revolution and the Tennis Court Oath are all examples where limitation of monarchial power is applied from below . The speed of Japans economic ascension can be attributed to the novel transition instituted by those in power to democracy. When looking at Japanese economic success the two main important periods to look at are the Meiji Restoration and post WWII reconstruction of Japan, as it is these periods in which Japanese economic growth is at its peak, which in turn set up Japan to be modern economic powerhouse.

"History is filled with the sound of silken slippers going downstairs and wooden shoes coming up". Voltaire

The Meiji Era saw the rapid economic growth through the importation of Western knowledge and the fusion of Japanese

Bibliography: Books Sir Ernest Satow, A diplomat in Japan, Seeley, London, 1921 James B. Collins and Karen L. Taylor (Ed.): Early modern Europe. Issues and interpretations, Malden, Blackwell Publishers, 2006 Malcom Kennedy Randall Morck and Bernard Yeung, Japanese Economic Success and the Curious Characteristics of Japanese Stock Prices. Hitosobashi, Hitosobashi University Economic Dept, 2006 Internet Sources