Japan at a Deadlock

MICHIO MORISHIMA is the and works at STICERD attached to the LSE. He is the General Editor of the Macmillan series of the Classics in the History and Development of Economics. His previous publications include Why Has Japan 'Succeeded'?, as well as volumes on general economic theory, the history of economic thought and the socio-economic aspects of the development of Japan.

When Professor Morishima's book Why has Japan 'Succeeded'? This directional change is investigated through a variety of standpoints, using an in-depth knowledge of the Japanese ethos, national history, educational background, as well as the sociology of the Japanese economy and business world.When Professor Morishima's book Why has Japan 'Succeeded'? (1982) was published, Japan was still a country of 'capitalism from above'. For the past ten years the country's economy has faltered and declined. It is turning towards 'capitalism from below' despite Japan's weak democracy. This directional change is investigated through a variety of standpoints, using an in-depth knowledge of the Japanese ethos, national history, educational background, as well as the sociology of the Japanese economy and business world. The author offers a long-term forecast for the future of Japan.