The Japanese Economy Today and Tomorrow

Ia. Pevzner

Japanese Economy, 1973, vol. 2, issue 2, 3-24

Abstract: One of the authoritative Japanese economics journals published for foreigners contained a cartoon depicting the Japanese economy as a horse that had thrown its rider and was running in an unknown direction. A government "planner" wearing a professor's cap was attempting to overtake him. This cartoon serves as an illustration to the following text: "Government planners today are disheartened and are losing faith in the effectiveness of their activity. They have been assigned the task of making a new economic forecast in place of the presently existing Plan of Economic and Social Development for 1970-1975. What especially alarms them is the fear that government forecasts will be fruitless and that social circles and businessmen will be more and more neglectful of government directives. One of the problems that concerns the economists in this connection is the problem of investment in plant and equipment, which in the past was the basic motive force behind economic growth." (1)

Date: 1973
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DOI: 10.2753/JES1097-203X02023

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