What are the factors that contributed to a growing economy in Japan after World War 2?
General MacArthur ?
http://history.state.gov/milestones/1945-1952/japan-reconstruction
BOI, XD
After World War 2, Japan experienced a rapid and impressive period of economic growth, often referred to as the "Japanese post-war economic miracle." There were several key factors that contributed to this growth:
1. Political Stability: Following the end of World War 2, the Japanese government focused on bringing stability to the country. A new constitution was adopted, democratic institutions were established, and a stable political environment was created, which allowed for long-term economic planning.
2. Industrialization and Infrastructure Development: Japan's government and private sector worked together to drive industrialization. Massive investments were made in infrastructure projects such as transportation networks, power plants, and ports. This laid the foundation for a modern and efficient economy.
3. Skilled Workforce and Education: Japan made significant investments in education and training, fostering a highly skilled and educated workforce. The emphasis on technical and engineering education contributed to Japan's ability to compete in manufacturing and technology sectors.
4. Export-Oriented Economy: Japan adopted an export-driven economic strategy. With limited natural resources, the country directed its efforts towards producing high-quality manufactured goods for export. This approach helped Japan earn foreign exchange, boost employment, and build a global reputation for quality and reliability.
5. Close Government-Industry Cooperation: The Japanese government worked closely with industries to provide support and guidance. This collaboration, often referred to as the "Japanese model" or "keiretsu system," facilitated communication, coordination, and cooperation between government agencies and private companies. It fostered long-term planning, research and development, and helped identify emerging markets.
6. Consensus and Social Stability: Japan's society exhibited a strong sense of consensus, cooperation, and social stability. This helped avoid disruptions and conflicts that could have hindered economic growth. Workers, employers, and the government collaborated to address labor issues and improve productivity.
7. Technological Innovation: Japan became known for its commitment to innovation and continuous improvement. Companies invested heavily in research and development, leading to advancements in sectors such as electronics, automobiles, and robotics. This focus on technological innovation contributed to Japan's industrial competitiveness.
To summarize, the combination of political stability, industrialization, skilled workforce, export-oriented strategy, close government-industry cooperation, social stability, and technological innovation were the main factors that contributed to Japan's remarkable post-war economic growth.