Term Papers on What The United States Can Learn From Japan

Term Paper Title	What The United States Can Learn From Japan
# of Words	551
# of Pages (250 words per page double spaced)	2.2

What The United States Can Learn From Japan

Japan and the Four Little Dragons in order to achieve their
industrialization goals have a diverse set of policies ranging from limited
entitlement programs to a education and government bureaucracy that stresses
achievement and meritocracy. But one of the most significant innovations of
Japan and the Four Little Dragons is there industrial policy which targets
improving specific sectors of the economy by focusing R&D, subsidies, and tax
incentives to specific industries that the government wants to promote. The
United States could adopt some of these industrial policies to help foster
emerging high tech businesses and help existing U.S. business remain competitive
with East Asia.
In Japan the government both during the Meiji period and the post World
War II period followed a policy of active, sector selective industrial targeting.
Japan used basically the same model during both historical periods. The Japanese
government would focus its tax incentive programs, subsidies, and R&D on what it
saw as emerging industries. During the Meiji period Japan focused it's attention
on emulating western technology such as trains, steel production, and textiles.
The Meiji leaders took taxes levied on agriculture to fund the development of
these new industries. Following World War II Japanese industries used this same
strategic industrial policy to develop the high-tech, steel, and car industries
that Japan is known for today. Some American industries are currently heavily
supported by the government through subsidies and tax breaks to farmers, steel
producers, and other industries that have been hurt by foreign competition
because they are predominantly low-tech industries. But this economic policy of
the U.S. is almost a complete reversal of the economic policies of Japan and the
Four Little Tigers; instead of fostering new b...

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