...experienced an incredible postwar economic boom after World War II. Additionally, this economic expansion is known as one of the few times in the post-industrial revolution era when inequality between economic groups shrunk, as exhibited by America’s Gini coefficient falling, albeit slightly, starting in the 1940s and continuing up until the mid-1960s. (Lindert, p. 2-652). Ostensibly, a rising tide of economic growth seemed to be lifting the boats of both the wealthy and the working class. The strong and steady income gains and economic growth of the postwar boom proved temporary as the historic anomalies that came about after the end of World War II began to fade in the face of an increasingly competitive global economy....
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...More Globalization To Solve Japan's Prolonged Economic Stagnation: 2020 Tokyo Olympic, Establishment of Foreign Companies and Cultural Reform/Cultural Ramification Before Japan was globalized it was secluded from the rest of the world for nearly two centuries from1603 to 1868. This time period was called the Tokugawa Period. Even though Japan closed its ports to foreign trade, it was self sustainable and independent. This self sustainable society was maintained through its unique producer-consumer relationship and the "reuse recycle" practice in commerce due to the island's limited resources. Repair merchants such as tinker, ceramics repairers and truss hoop repairers supported a society where nothing was thrown away but instead carefully repaired and reused until the products were truly un-amendable. For example, tinkers used special techniques and charcoal heat to weld holes in pots and kettles with other metals; ceramic repairers glue broken ceramic pieces together with sticky rice and applied heat; paper makers buy used papers and blend them to make a variety of paper from writing paper to toilet paper (Staff). The Tokugawa Period served as a model of a flourishing sustainable society to the Japanese. After Japan was introduced to globalization during the Second World War, the nation benefited from becoming a export driven economy, business policies such as the lifetime employment policy promoted the efficiency of the company, and the cultural influences on business management...
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...and per-capita income (adjusted for inflation) has grown fivefold. In recent decades, reforms pushed up the country's once sluggish growth rate to around 8 percent per year, before it fell back a couple of percentage points over the last two years. For years, India's economic growth rate ranked second among the world's large economies, after China, which it has consistently trailed by at least 1 percentage point. The hope that India might overtake Chinaone day in economic growth now seems a distant one. But that comparison is not what should worry Indians most. The far greater gap between India and China is in the provision of essential public services - a failing that depresses living standards and is a persistent drag on growth. Inequality is high in both countries, but China has done far more than India to raise life expectancy, expand general education and secure health care for its people. India has elite schools of varying degrees of excellence for the privileged, but among all Indians 7 or older, nearly one in every five males and one in every three females are illiterate. And most schools are of low quality; less than half the children can divide 20 by 5, even after four years of schooling. India may be the world's largest producer of generic medicine, but its health care system is an unregulated mess. The poor have to rely on low-quality - and sometimes exploitative - private medical care, because there isn't enough decent public care. While China devotes 2.7 percent...
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...GSICS Working Paper Series Infrastructure Development for the Economic Development in Developing Countries: Lessons from Korea and Japan Byoungki KIM No. 11 November 2006 Graduate School of International Cooperation Studies Kobe University Infrastructure Development for the Economic Development in Developing Countries: Lessons from Korea and Japan Byoungki KIM Abstract Infrastructure is indispensable to achieve the main development targets in developing countries, such as urbanization, industrialization, export promotion, equitable income distribution, and sustainable economic development. Late developing countries can benefit from previous development experience provided they choose the right model1. However, the relationship between infrastructure and economic growth is still frequently debated. This paper will examine the experience of Korea and Japan in infrastructure development for economic growth to acquire some valuable lessons that infrastructure development contributes to economic development in developing countries. 1. Introduction The lack of infrastructure is hindering the economic growth in many developing countries2. Infrastructure investment has the effects of contributing to increase the productivity and it is expected to contribute to future economic growth in developing countries where infrastructure is still insufficient. Therefore, infrastructure development is one of the most integral parts of the public policies in developing countries...
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...Thailand A Story of Unequal Growth Hailed as the “Southeast Asian Miracle,” Thailand’s economy was among the fastest growing in the world in the latter 20th century. Gross domestic product (GDP) averaged 7.6% during the 1960s and 1970s, dropping to 5.5% during the early 1980s, and then rose to 9% during 1985-1995 (Doner 26). Having undergone dramatic transformation from an agrarian economy into a Newly Industrializing Economy (NIE) in just three decades, the IMF and the World Bank were touting Thailand as a successful example of market-based development (K.S. et. al 56-57). However, critical examination of Thailand’s progress beyond GDP growth finds the extent of its economic achievements was similarly matched by its widening inequality and lagging development indicators, begging the question of whether standard measures of economic progress, such as GDP, are sufficient in assessing national development. Thailand’s Government and the Development of a Modern Economy Following the end of absolute monarchical rule in 1932, Thailand became a constitutional monarchy with a parliamentary democratic political system. The head of state is King Bhumibol Adulyadej, who has reigned since 1946. Its partially elected national legislature selects a prime minister, who appoints a cabinet of ministry heads (Economist Intelligence Unit). While the kingdom is divided into four geographical regions – North, Northeast, Central, and South, Thailand is a centralized unitary state whose powers...
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...South Korea vs. the Philippines: A Paragon of Economic Development? Ruben Reyes GLS – 102-005 Professor Eijmberts April 28, 2015 A little over half a century ago, South Korea was under the colonial rule of Japan, while the Philippines was colonized by the United States. It was not until the late 1940s did both countries gain their independence. After decades of political strife, ranging from conventional war to guerrilla conflict against the United States, the Philippines gained their independence on July 4, 1946. It was when the United States signed the Treaty of Manila, annexing the Philippines, as it became an independent commonwealth (Philippine Independence). Meanwhile, approximately two and a half thousand kilometers north of the Philippines, Japanese oppression ran rampant in the Korean peninsula. It was only until, the US had dropped two atomic bombs over Hiroshima and Nagasaki did Japan withdraw their troops from the peninsula, ending the Second World War. Thus, on August 13, 1948, South Korea had attained full autonomy from Japan, commemorating the end of the thirty-five year Japanese occupation, and the formation of the South Korean republic (National Liberation Day 2012). Similarly, following the liberation from colonial rule, both nations had experienced political turmoil, or economic deterioration as a result of war. Just 5 years following the liberation of Korea, the communist North invaded the South thus ensuing the Korean War and truncating into...
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...The following text is the second chapter of ―L‘Essai sur l‘oeconomie‖ by Pierre Calame, published at Editions Charles-Léopold Mayer in 2009. Translated from French by Michael C. Behrent. Chapter 2. Globalization in Question 1. “Pro” vs. “Anti” Globalization: The New Divide For a number of years, the question of economic globalization—i.e., the interdependence of national systems of production and exchange and the ―financialization‖ of the world (revealed by the American subprime crisis in 2007)—has polarized public opinion. The problems stemming from economic globalization dominate the news: the outsourcing production in search of cheaper labor costs; the decreasing efficiency of national juridical and fiscal regulation; the waning of the very idea of sovereignty; the growing constraints within which politicians can act; the emergence of a small class of the immensely rich alongside the billions of poor; the rise of new financial actors—pension funds, hedge funds, and sovereign wealth funds—capable of destabilizing or seizing control of entire realms of the economy; and the emergence of China and India as new global economic actors, as their companies storm the industrial bastions of the United States and Europe. Should one be for or against globalization? Can we turn our backs on globalization, and return to national or regional systems of production and exchange that are autonomous, even autarkic? Is the large cosmopolitan corporation the new leviathan—a monster that...
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...nation’s citizens. This seems like it has good intentions, but many governments borrow the money they use for this spending and that only creates new problems. In the United States, the total debt is greater than its total economic output, and this debt will only hinder future and long term growth. On top of all that, the idea that a better national economy will make the citizens happier overall contradicts the idea that money doesn’t buy happiness. Does this mean that money actually does buy happiness, or does it mean that the economy doesn’t have anything to do with people’s happiness? Some regions are poorer than the United States and yet are happier, an example is Latin America. Other richer countries, like the United States, Japan, and China have had great economic growth over the past few decades, yet happiness has changed very little and in the case of China it has even declined. So does this mean that the economy doesn’t have anything to do with people’s happiness? This statement seems absurd to many people living in countries with struggling economies. If you talk to most people they will want the economy to get better. If you look at government discretionary spending...
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...governments funded large infrastructure projects during this period. Here the redevelopment of Norrmalm and theStockholm Metro, Sweden. The post–World War II economic expansion, also known as the postwar economic boom, the long boom, and the Golden Age of Capitalism, was a period of economic prosperity in the mid-20th century which occurred, following the end of World War II in 1945, and lasted until the early 1970s. It ended with the collapse of the Bretton Woods system in 1971, the 1973 oil crisis, and the 1973–1974 stock market crash, which led to the 1970s recession. Narrowly defined, the period spanned from 1945 to 1952, with overall growth lasting well until 1971, though there are some debates on dating the period, and booms in individual countries differed, some starting as early as 1945, and overlapping the rise of the East Asian economies into the 1980s or 1990s. During this time there was high worldwide economic growth; Western European and East Asian countries in particular experienced unusually high and sustained growth, together with full employment. Contrary to early predictions, this high growth also included many countries that had been devastated by the war, such as Greece (Greek economic miracle), West Germany (Wirtschaftswunder), France (Trente Glorieuses), Japan (Japanese post-war economic miracle), and Italy (Italian economic miracle). ------------------------------------------------- Terminology In academic literature, the period is frequently...
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...which have in turn impacted the culture itself. The automobile industry is one of the largest technological industries that have developed in Japan. The growth of the automobile industry in Japan has had both positive and negative effects on the Japanese culture. The Japanese culture in 1950 prior to the accelerated growth of the automobile industry was complex and comprised of practices and institutions which developed based upon both ancient beliefs and contemporary influences. Ancient beliefs were a result of spiritual ideas, and internal political and economic structures that developed over time on this island nation, for the most part isolated from the western world until the 1800s. Western political and economic influences had an effect the culture thereafter. Spiritual beliefs in Japan are primarily an outcome of the influence of Shintoism, Confucianism and Buddhism, with some impact made by Christian missionaries who arrived on the island in 1600s. Shintoism, the earliest religious belief system of the indigenous people of Japan, is the belief that spirits that abide in natural elements (kami) influence all aspects of daily life. Buddhism, brought to Japan from China in the mid sixth century, first introduced the idea of the afterlife and the possibility of rebirth through spiritual progress. Confucianism also brought to Japan during the same period, lead to the development of...
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...[pic] TABLE OF CONTENTS EXECUTIVE SUMMARY 4 INTRODUCTION 5 KONGO GUMI ENVIRONMENT 7 Feudal Japan 8 The Restoration of Edo 8 The Meiji Restoration 9 World War 1 12 The Mid War Period 13 World War 2 15 The Occupation of Japan and Post War Reconstruction 16 The Economic Miracle 17 The Lost Decade 18 Global Financial Crisis 19 Natural Disasters 20 Abenomics 21 STRATEGIES KONGO GUMI USED TO SURVIVE TURBULENCE 23 Kongo Gumi in the 20th Century 23 Meiji restoration 23 The Mid War Period 24 World war 11 24 KONGO GUMI WOULD HAVE SURVIVED IF: 25 WOULD KONGO GUMI HAVE SURVIVED IF IT MADE IT THROUGH TO THE ABENOMICS ERA? 26 LESSONS FROM KONGO GUMI 27 CONCLUSION 28 REFERENCES 31 Appendix 1 – Infographic of Japan’s timeline EXECUTIVE SUMMARY Kongo Gumi was a success as it operated in a stable industry. The belief system has survived for thousands of years and has many millions of adherents. With this firm foundation, Kongo had survived some tumultuous times. The temple construction had until recently been a reliable mainstay, contributing 80% of Kongo Gumi's $67.6 million in 2004 revenues. The story of Kongo Gumi suggests that firms should blend elements of conservatism and flexibility. This means that firms should stay in the same business for more than a millennium and...
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...E SSAYS ON TWENTIETH-C ENTURY H ISTORY In the series Critical Perspectives on the Past, edited by Susan Porter Benson, Stephen Brier, and Roy Rosenzweig Also in this series: Paula Hamilton and Linda Shopes, eds., Oral History and Public Memories Tiffany Ruby Patterson, Zora Neale Hurston and a History of Southern Life Lisa M. Fine, The Story of Reo Joe: Work, Kin, and Community in Autotown, U.S.A. Van Gosse and Richard Moser, eds., The World the Sixties Made: Politics and Culture in Recent America Joanne Meyerowitz, ed., History and September 11th John McMillian and Paul Buhle, eds., The New Left Revisited David M. Scobey, Empire City: The Making and Meaning of the New York City Landscape Gerda Lerner, Fireweed: A Political Autobiography Allida M. Black, ed., Modern American Queer History Eric Sandweiss, St. Louis: The Evolution of an American Urban Landscape Sam Wineburg, Historical Thinking and Other Unnatural Acts: Charting the Future of Teaching the Past Sharon Hartman Strom, Political Woman: Florence Luscomb and the Legacy of Radical Reform Michael Adas, ed., Agricultural and Pastoral Societies in Ancient and Classical History Jack Metzgar, Striking Steel: Solidarity Remembered Janis Appier, Policing Women: The Sexual Politics of Law Enforcement and the LAPD Allen Hunter, ed., Rethinking the Cold War Eric Foner, ed., The New American History. Revised and Expanded Edition E SSAYS ON _ T WENTIETH- C ENTURY H ISTORY Edited by ...
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...Academy of Management Review 2003, Vol. 28, No. 3, 447–465. THE CROSS-NATIONAL DIVERSITY OF CORPORATE GOVERNANCE: DIMENSIONS AND DETERMINANTS RUTH V. AGUILERA University of Illinois at Urbana-Champaign GREGORY JACKSON Research Institute of Economy, Trade and Industry We develop a theoretical model to describe and explain variation in corporate governance among advanced capitalist economies, identifying the social relations and institutional arrangements that shape who controls corporations, what interests corporations serve, and the allocation of rights and responsibilities among corporate stakeholders. Our “actor-centered” institutional approach explains firm-level corporate governance practices in terms of institutional factors that shape how actors’ interests are defined (“socially constructed”) and represented. Our model has strong implications for studying issues of international convergence. Corporate governance concerns “the structure of rights and responsibilities among the parties with a stake in the firm” (Aoki, 2000: 11). Yet the diversity of practices around the world nearly defies a common definition. Internationalization has sparked policy debates over the transportability of best practices and has fueled academic studies on the prospects of international convergence (Guillen, 2000; Rubach & Sebora, ´ 1998; Thomas & Waring, 1999). What the salient national differences in corporate governance are and how they should best be conceptualized remain hotly debated...
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...BRAND MANAGEMENT THE REFLECTIONS OF COUNTRY-OF-ORIGIN EFFECT ON CONSUMER BEHAVIOUR ABSTRACT The purpose of this paper is to reflect ‘country-of-origin effect’ (COO) on consumers’ brand perceptions and their behavioral intensions. It has been proved that the country of origin of a product was one of the two or three most important attributes in preference evaluation. A comprehensive review of the literature regarding the effect of country of origin on consumer perceptions of products and services, COO in France and France Cosmetics Industry have also been handled. In this study, it has been indicated that customer perceptions differ significantly on the basis of product/service and country of origin. The country of origin may be an important element in the perceptions of consumers about the products and services especially where little other information is known. However, the question of how much influence the country of origin provides in product and service evaluations remains unclear. Keywords: Country of origin, cultural values, brand, consumer perceptions. 1 SECTION 1-COUNTRY OF ORIGIN EFFECT Impact of Country of Origin on International Marketing The impact of country of origin (COO) on the consumer's perception of products has been one of the most widely studied areas of international marketing. (Samiee, 1994; Peterson and Jolibert, 1995, Leonidou et al, 1999). Increasing globalization of today's business environment has also renewed the interest in...
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...ISCOR 300 Spring 2014 Tuesday 4:00-6:00pm Exam Study Guide IDs: You should be able to identify major terms, concepts, events, and people. A good ID response requires that you state who or what it is, AND its significance in the context of the course (how, why important? The so what question). Study suggestion: go through the readings and video, lecture, and discussion notes; make an extended list of potential candidates (20-25). Choose 10-15 to concentrate and focus on in relation to what a good ID should be. YOU WILL HAVE A LARGE NUMBER OF IDs TO CHOOSE FROM, 5 out of 10-12. Each ID will be worth 10 points, for a total of 50 points. FOR EXAMPLE, in a class dealing with international security, an ID for Aum Shinrikyo would be as follows: Aum Shinrikyo was an apocalyptic Japanese religious cult that released sarin nerve gas in the Tokyo subway in 1995, killing 12 and injuring over 5,000. The ultimate goal of the cult was to bring about chaos on an international scale culminating in a nuclear war, as a means of ushering in the apocalypse. The 1995 attack was an effort to test methods of dispersing chemical weapons, a step towards achieving that goal. Significance: Aum Shinrikyo was the first non-state actor to successfully carry out a large-scale chemical weapon attack against civilians. The cult illustrates a new face of terrorism, post-modern terrorism. Post-modern terrorism is defined as groups without specific political or sub-national...
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