The New Technical Trader by Chande Kroll

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About Course

The focus of this book is on the Japanese economic bureaucracy, particularly the famous Ministry of International Trade and Industry (MITI), as the main state actor in the economy. Although MITI was not the only important agent that affected the economy, nor was the state as a whole always predominant, I do not want to be too modest about the importance of this issue. The speed, shape and particular consequences of Japanese economic growth are not intelligible without reference to MITI’s contributions. Collaboration between the state and big business has long been recognized as the defining feature of the Japanese economic system, but for too long the role of the state in this collaboration has been condemned as derogatory or dismissed as merely solidarity, with no one having analyzed the matter.

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MITI’s history is central to the economic and political history of modern Japan. Equally important, however, the methods and achievements of the Japanese economic bureaucracy are central to the continuing debate between advocates of communist-type command economies and advocates of western-type mixed market economies. Fully bureaucratized command economies misallocate resources and stifle initiative; To function, they must lock their populations behind iron curtains or other more or less waterproof barriers.

Mixed market economies struggle to find ways to introduce politically determine priorities into their. Market systems without spotting a bad case of the “English disease” or being frustrate by US-type legal expansion. The Japanese, of course, do not have all the answers. But given the fact that virtually all solutions to any of the critical. Problems of the late twentieth century (energy supply, environmental protection, technological innovation, etc.). Involve an expansion of official Japanese bureaucracy, priorities, and particular Japanese procedures. they are instructive. At the very least, they should warn a foreign observer that Japanese achievements were not obtaine without paying a price.