Japan grew explosively and consistently for more than a century, from the Meiji Restoration until the collapse of the economic bubble in the early 1990s. Since then, it has been unable to restart its economic engine and respond to globalization. How could the same political-economic system produce such strongly contrasting outcomes?
This book identifies the crucial variables as classic Japanese forms of socio-political organization: the "circles of compensation." These cooperative groupings of economic, political, and bureaucratic interests dictate corporate and individual responses...
Japan grew explosively and consistently for more than a century, from the Meiji Restoration until the collapse of the economic bubble in the early ...
