Japan may have been a liberal democracy for nearly half a decade, but its commitment to free-market capitalism has been, at best, cursory. Rather, the country's post-war economic miracle has been based on a system of corporatist capitalism whereby capital was directed by bureaucrats from banks into strategic industries...more
Japan may have been a liberal democracy for nearly half a decade, but its commitment to free-market capitalism has been, at best, cursory. Rather, the country's post-war economic miracle has been based on a system of corporatist capitalism whereby capital was directed by bureaucrats from banks into strategic industries...
