Business: Capitalism in Japan

Because no nation has come half so far so fast, Japan is envied by capitalists elsewhere and looked upon as an example to emulate. Thirty years ago, its war-shattered economy was little more than one-third the size of Britain's. Today the Japanese G.N.P. exceeds the combined total of Britain and France, and the gap is certain to widen in the years ahead.

The Japanese variant of capitalism cannot be readily or precisely copied, except perhaps by a few Asian countries, because it is rooted in a homogeneous, hierarchical society with a not so distant...

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