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Economic Miracle in Japan - Essay Example

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Economic Miracle in Japan

Although by definition, a miracle is inexplicable, the basic cause behind Japan's economic success can perhaps be explained in simple terms: the indomitable desire of the Japanese people to grow, their deeply persistent will to succeed at any cost. Between 1945 and 1970, the Japanese economy sustained an unprecedented annual growth rate of nearly ten percent on average (Kosai). But this in itself would seem like a minor detail in comparison to the stupendous driving force that compelled the Japanese people to race towards technological excellence and economic supremacy, most notably during 1960's. In the second-half of 1960's Japan reached a peak of economic progress, with an average of nearly 12% real annual growth rate. And for nearly 40 years surrounding this peak period, the country and its people subordinated all other goals in order to single-mindedly pursue their ambition of catching up with the U.S. economy (Crawford). In fact, their ambition knew no bounds; the aggressive strain so characteristic of Japanese men, which was employed for the purposes of destruction during the War, was rechannelled into more positive and constructive directions during the years of the economic boom. ...Show more

Summary

Japan's catapult to world economic power in the latter half of the twentieth century had been phenomenal. Out of the ashes of Second World War, this tiny nation rose like the mythological phoenix and soared high in the sun-lit skies of prosperity for decades on end…
Author : qrutherford
Economic Miracle in Japan essay example
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