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Among the world's great industrial states, Japan is the newest, most dynamic, and most distinctive. Whether viewed as a model, a partner, or a threat, no country is more important or less understood. What are the central features of Japan's industrial system? What are the core institutions and practices that have to be understood in order to know how it functions? What sets it apart from other industrial systems, notably that of the United States? Is the Japanese system changing, and if so, how? These are the basic questions addressed in this volume, which presents in compact form the best...

During the 1970s, Japan supplanted the United States as the world leader in steel production, automobile manufacturing, and consumer electronics. Are the Japanese poised to repeat these successes in the semiconductor industry? This question has vast potential significance, because semiconductor technology holds the key to competitiveness in high technology, one of America's last bastions of industrial supremacy. This book, the product of years of joint research by a multidisciplinary team of American and Japanese scholars, analyzes the strengths and weaknesses of each country's semiconductor...

Over the postwar period, the scope of industrial policy has expanded markedly. Governments in virtually all advanced industrial countries have extended the visible hand of the state in assisting specific industries or individual companies. Although greater government involvement in some countries has lessened the dislocations brought about by slower growth rates, industrial policy has also caused or exacerbated a number of other problems, including distortions in the allocation of capital and labor and trade conflicts that undermine the postwar system of free trade. Only Japan is widely cited...