POLS 3470 Lecture Notes - Lecture 3: General Agreement On Tariffs And Trade, European Cooperation In Science And Technology, World Trade Organization
4 Nov 2013
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Document Summary
Post war economic miracle poverty to economic powerhouse. Modern state partnership with business: pre-war. Zaibatsu small number of very larger enterprises. Broken up after war: post war. Large firms clustered around banks (horizontal kereitsu) eg. mitshibishi. 1980s unsustainable trade with rest of world. Not enough investment opportunities to absorb all the money. Car manufacturers spent billions in us and uk. 1989 inflation over, unmanageable, slowed down, interest rates went up, stock market fell 60%, property market fell deflation on economy. Lots of corruption discovered public tolerance falling. Bureaucrats expected to make most of policy decisions. Intense pressure to get into the best post-secondary schools. Dominance of liberal democratic party (ldp: consevative, farmers overrepresented. Government domination (1955-1970: post-war, power of industry, close relationship between stat capital and manufacturing, government wielded great power, major source of capital, priorities established by ministry of international trade. More equal partnership (1970s & 1980s: changed circumstances japanese economic success & economic.
