(7) - Capitalist Development - Japan, Thailand, South...

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Capitalist Development - Japan, Thailand, South Korea, Taiwan, Singapore - when you see “made in Japan” you usually thought it was crap, now they are infuential developers in areas such as technology - Shows that there is more upward mobility internationally - Implications: being poor does not mean that you need to stay poor, internationally speaking and you are not poor because others are rich - poor are not getting rich because they exited capitalist behavior, but because they engage in it - but how do they do it? Japan - japan’s developmental model looks a lot like Germany’s - they tried to copy European countries that expanded like they wanted to - most important key Feature oF Japanese developmental model is export orientation (like Germany) - designed to export to the other wealthy countries - powerFul ministries that guide investment (MITI and Mo±) - pick what they think are winning industries and back them up - - large vertically and horizontally integrated ²rms that oFten have their own banks - the banks get their money From the Ministry oF ±inance - small unemployment, small welFare state (employment is the welFare state) - different career paths : bureaucracy vs. private sector (“descending From heaven”) where do our most ambitious people want a career? private sector - there is more money, they then gain lots oF money and can aFFord to run For public oF²ce they ‘descend’ by going to school, working hard, getting a job in a public oF²ce and then moving to the private sector (heaven) - long run view to conquering markets - you had politically directed markets that were geared
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(7) - Capitalist Development - Japan, Thailand, South...

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