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Economic growth, good or bad Final

Economic growth, good or bad Final - Richard Haynie ENG 102...

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Richard Haynie ENG 102 Dr. Drnjevic 03/30/07 Economic Growth… Good or Bad? The "Japanese post-war economic miracle" is the name given to the historical period of Japan’s economic growth following World War II, spurred both by United States investment and Japanese government economic intervention through their Ministry of International Trade and Industry. Since the 19 th century, under the Meiji reformation, Japan has been modernizing itself into a western industrialized powerhouse. In 1945 Japan lost the war to the United States. Under the US’s supervision Japan continued to grow as an industrialized modern nation. Early after the war Japanese products were considered to be inferior, and of bad quality, but in recent years this has changed. Japan has managed, in the last few years, to bring itself to the status of the second most efficient economy in the world. This tremendous growth has contributed to large urban cites developing in Japan in a very small time frame. This rapid growth has contributed to issues with the urban environment, density, and culture. In economics along positives there are often negative externalities with the positives. In Japan's case, pollution is a large negative externality of their economic growth. The country is coping with a severe pollution problem brought on by its rapid industrial development amidst a densely packed population (Maciones-Parrillo 400).
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