David Flath

The Japanese Economy

The Japanese Economy, 4th Edition is for anyone curious about economics, for it is impossible to appreciate economics without vivid examples of its application. This book is also for anyone broadly interested in Japan, for it is impossible to fully understand Japan without learning what basic economics has to say about it, which is much. To know Japan - or any country for that matter - is more than an ability to recite a litany of facts about its history, geography, institutions, and culture. Disciplined thinking is needed to organize the disparate facts into a coherent system that can be grasped whole. Modern economics is the academic discipline underlying this book. The book uses economics and explains it, but without presuming the reader has any prior knowledge of it. The main object of interest is Japan. It starts with Japan's economic history since the late sixteenth century through the twentieth century. It then addresses contemporary topics in Japan's economy, beginning with ones that require an economy - wide perspective - economic growth and the business cycle, exchange rates, and the balance of trade. The discussion then moves on to sectors of the economy: the public sector, industry and trade, the financial system, the labor market, and more. The chapters can be read in any order, but four threads run through all the chapters and link them: Japan's economic growth and development, Japan's integration with the world economy, government policies and their effects, and peculiar economic institutions and practices.