Cartels of Japan
Amid the world today, Japan is a weak link in the chain of the world economies. It is not the miracle it used to be. Japan, after the war, has made some decisions that caused some problems for the future. Those decisions ultimately caused the economic distress it is now striving to get out of. One such decision was the approval of the formation of cartels. This was enhanced with the government passing of the Industries Control Law. This law enable the cartels to control and establish fixed rates in prices, production, and an important link. A link that enables a country to grow, the entrance of new firms. The entrance of firms increases capital, labor, tax revenue etc. The problem surrounding Japan's unfortunate economic distress is due to the governments protectionism, the slowly withdrawal of Japan's key corporations, and the formation of cartels. Many major problems arose with the governments intervention to protect it's businesses. The ramifications of those actions are now quite visible, and is now proved to be the wrong methods of controlling an economy. It worked for the circumstances after the war, however, an economy has to adapt to the changing times. What worked for today may not work for tomorrow. The government only
Japan is the miraculous country gone sour. The main reason why, is cartels. The cartels has to go, so Japan can proceed forward. Once the cartels are gone, the corporations would have a reason to return to Japan. Furthermore, once the corporations return, revenue, capital, and labor employment; therefore, bettering the overall standard of living. In order to get rid of the cartels, Japan would have to abolish its protectionism. World competition would eradicate the cartels, also bringing in more capital and more technological innovations from other corporations. I think Japan is in a position now that it has only one option, that is to open up to the world. In doing so, the present governing party is unable to see the light at the end of the tunnel. Like how the governing parties after the Meiji restoration could not foresee the out come of their decisions. However, the benefits that will be reaped will be better than the present one. Japan ultimately has to get rid of it's cartels so that the economy can fully function. witnessed the success of their decisions, however they were unable to adapt that success to continue through the changing times. By protecting their businesses, they were shutting out the rest of the world, and by doing this, they would have to sustain themselves. Not that the world did not want any part of J
Some common words found in the essay are:
Control Law, Japan Furthermore, Mail Line, , formation cartels, protectionism world, world doing, tightly knitted web, economic distress, cartels cartels, cartels japan, corporation expand, cartels control, governing parties, knitted web,
Approximate Word count = 902
Approximate Pages = 4 (250 words per page double spaced)
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