MACMILLAN Japan at a Deadlock

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. Review 'Morishima casts his intellectual net broadly. He probes social, cultural and economic factors for answers to the dual enigma of Japan's earlier vitality and its current stagnation. In doing so, he accomplishes the unusual feat of both seeing how organizations and individuals actually behave, and presenting analytic concepts with practical explanatory value.' - Kent E. Calder, Japan Quarterly About the Author MICHIO MORISHIMA is the former Sir John Hicks Professor of Economics at the London School of Economics and Political Science 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.