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  • Topic: Industry, Economy of Japan, Japan
  • Pages : 2 (280 words )
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  • Published : February 18, 2014
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The phrase 'Japan Incorporated' gained prominence in the 1960s and persists to this day. While many see Japan as an industrial behemoth with a diversified set of complex and heavy industries not many know how this came about. MITI And The Japanese Miracle: The Growth Of Industrial Policy, 1925-1975 is an insightful book on the topic with an in-depth focus on MITI, Japan's famed and mystical Ministry Of International Trade And Industry. MITI practically conducted and coordinated Japan's industrial policy from 1949 until 2001 when it was folded into the then newly-created the Ministry of Economy, Trade and Industry (METI). Up until that time MITI was Japan's blunt instrument of economic policy and industrial structure. It was both revered and feared by the industries and cartels it espoused and nurtured. Staffed by handpicked and elite bureaucrats, this prodigious promoter of Japan's industry, productivity and exports was the official forum responsible for knitting the country's moves in the economic arena from its perch in Tokyo. It is not explicitly mentioned in this book, but on occasion, MITI was also complicit in suppressing internal Japanese citizens' dissent or protest against industry such as with the infamous Minamata Disease. MITI was also feared and disliked by foreign interests for its skillful shielding of Japanese economy from competition and penetration with the aid of both its own guidelines and associated laws.
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