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What The United States Can Learn From Japan - Online Essays

What The United States Can Learn From Japan



Japan and the Four Little Dragons in order to achieve their
industrialization goals have a diverse set of policies ranging from limited
entitlement programs to a education and government bureaucracy that stresses
achievement and meritocracy. But one of the most significant innovations of
Japan and the Four Little Dragons is there industrial policy which targets
improving specific sectors of the economy by focusing R&D, subsidies, and tax
incentives to specific industries that the government wants to promote. The
United States could adopt some of these industrial policies to help foster
emerging high tech businesses and help existing U.S. business remain competitive
with East Asia.
...

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levied on agriculture to fund the development of
these new industries. Following World War II Japanese industries used this same
strategic industrial policy to develop the high-tech, steel, and car industries
that Japan is known for today. Some American industries are currently heavily
supported by the government through subsidies and tax breaks to farmers, steel
producers, and other industries that have been hurt by foreign competition
because they are predominantly low-tech industries. But this economic policy of
the U.S. is almost a complete reversal of the economic policies of Japan and the
Four Little Tigers; instead of fostering new businesses and high tech industry
it supports out of date and low tech firms who have political clout. The
existing economic policy of the United States fails to help high tech businesses
develop a competitive advantage on the world market instead it stagnates
innovation by providing incentives primarily to existing business. The structure
of ...

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PAPER DETAILS
Added: 3/5/2008 07:45:47 AM
Category: Economics
Type: Premium Paper
Words: 587
Pages: 3

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