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Learning From the Japanese Economic Miracle: What Factors Lead to Economic Growth?

Learning From the Japanese Economic Miracle: What Factors Lead to Economic Growth? . Japan After World War II. Most of Japan’s major cities were severely damaged. About 3 million Japanese died. Many industrial factories were severely damaged or destroyed. . Japan’s Miracle Economic.

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Learning From the Japanese Economic Miracle: What Factors Lead to Economic Growth?

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  1. Learning From the Japanese Economic Miracle: What Factors Lead to Economic Growth?

  2. Japan After World War II • Most of Japan’s major cities were severely damaged. • About 3 million Japanese died. • Many industrial factories were severely damaged or destroyed.

  3. Japan’s Miracle Economic • Post WWII, Japan soon became an economic power. • No nation, up until the time, had seen their income and production rise faster than Japan between 1950-1975. • Why? • What leads to Economic Growth?

  4. Note the Economic Growth in Japan from 1950 – 1975. United States Japan

  5. Link to Gapminder: Click Here.

  6. Factors that Lead to Economic Growth and increased productivity • Investment in capital goods, research and technology. • Investment in human capital: education and skills. • Saving and investment • Public policy: free trade and competition

  7. INVESTMENT IN CAPITAL GOODS: RESEARCH AND TECHNOLOGY

  8. TECHNOLOGICAL PROGRESS Shinkansen: High Speed Rail Line: 186 mph

  9. Investment in Human Capital: Education

  10. The Japanese are among the world’s best educated population.

  11. Public Policy: Promoting competition, property rights, and free trade. Toyota Honda

  12. Japan Today

  13. BIBLIOGRAPHY Murphey, Rhoads. East Asia: A New History (4th Edition). New York: Longman, 2006. Mankiw, Greg. Principles of Economics. (4th Edition) USA: Thompson South-Western, 2007.

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