Japan's Transition from Socialism to Capitalism

Yasuo Takeuchi

Japanese Economy, 1998, vol. 26, issue 2, 3-24

Abstract: I believe that Japan should be regarded as a country of socialism, not capitalism. Most people have misperceived Japan as a capitalist country. Indeed, Japan has had capitalism—along with the United States, the United Kingdom, Germany, other European countries, and Korea. Japan was affiliated with the Western capitalism during the cold war and when confronted with Eastern socialism. Liberalism and democracy were the banners of Japan as a member of the "free world." However, even if Japan appears to be a capitalist country, when we probe the Japanese psyche we see that her true color is not capitalism, but socialism. For example, a bat tends to be mistaken for a bird, since it flies in the sky as a bird does. However, the truth is that a bat is not a bird, but a mammal. Likewise, Japan is a socialist country that pretends to be capitalist, just as a bat tends to be regarded a bird, rather than a mammal.

Date: 1998
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DOI: 10.2753/JES1097-203X26023

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