Why Japan And The Unites States
...word. I cannot get enough of it. And I can say the same about Japanese economic organization. It remains the world’s second largest economy, and managed to attain that ranking only a couple of decades after a war that had left it with a devastated industrial base. The manner in which it did this, and in which economic activities continue to flourish, has perplexed most economists who took a close look, and provides compelling arguments against prevailing economic doctrine in Europe and the United States. I made an attempt to put that in perspective in a recent talk, which was published and can be found here in pdf form. I will continue to come back to that subject. As for the United States, my preoccupation hardly requires explanation. The way in which much of the world with access to TV sets and the Web followed a year-long battle for the presidency may have had something to do with its soap-opera qualities, but probably more important is the general understanding of our planet’s population that it does matter very much who occupies that “most powerful person in the world” position. The first decade of the twentyfirst century, now nearing its close,...