Japan, Refutation of Neoliberalism

from Counter-Currents

The Japanese system is a sophisticated construct that requires some of the world’s most skilled economic managers. Outsmarting capitalism is not a game for amateurs.

The Japanese system is a system, so one cannot just copy any piece of it and expect it to work outside its original context. But some pieces depend upon things that are sufficiently similar in other economies that they are plausibly imitable. For example:

1. Any nation can usefully increase its savings rate, not necessarily by Japan’s means.

2. Any nation can prop up working-class wages by not importing cheap foreign labor.

3. Advanced nations can benefit from carefully relaxing anti-cartel laws to allow cooperative R&D, as in the Sematech consortium in the US.

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