Economic Miracle in Japan Essay Example | Topics and Well Written Essays - 2250 words

Economic Miracle in Japan - Essay ExampleAlthough by definition, a miracle is inexplicable, the basic cause behind Japans economic success can perhaps be explained in elementary 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 most ten percent on medium (Kosai). But this in itself would seem like a small-scale detail in comparison to the stupendous driving ferocity that compelled the Japanese people to race towards expert excellence and economic supremacy, most notably during 1960s. In the second-half of 1960s Japan reached a poster 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 espial 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. Consequently, Japan thrived, and scour today, as well as for geneartions to come, represents a legendary story of success, an inspiration and exemplar for scores of create nations in Asia and elsewhere. In fact, Japan should become an inspiration to itself. If this nation could pull it off once - this alleged(prenominal) economic miracle - it can pull it off again. All it needs is a push While helping associated with Japans days of glory may be at sharp variance from those of today, and while many of its aside economic policies stand discredited today, and its culture too is changing fast - deep down, the liven up of this quaint nation remains as powerfully vital as ever. Above all, miracles have to do with spirit - of whic h Japan perhaps does not need too much before it again becomes a force to be reckoned with.Factors contributing to Japans High Growth Rate Although Japans spectacular economic growth culminating towards the end of 1960s may initially give the impression of not being subject to rational analysis, in the same port as a painting of supreme artisitry or as a deeply touching acid haiku, it too is as much a cause-and-effect phenomenon as any other groundly matter. Japan is the purest guinea pig of what has become known as a producer economic state. But what lies behind this countrys remarkable and best productivity levelsAdvances in cognition, for one thing. Japans economic success was achieved to a great extent on the background of a superior technological know-how. The Japanese had the intellectual capacity to soak in vast amounts of knowledge necessary to stay at par with any other nation in our modern techonology-dominated world - and they put their intellects at the service of technology with a vengeance. They not only were able to ingeniously guide the latest technologies, they actually adapted it to their own needs, and were moreover setting a number of innovative trends in a wide variety of technology-intensive industries. But even more than the share of knowledge, at least