Japan Vs. United States Economy Policy
In order for Japan to achieve its industrialization goals have a diverse set of policies ranging from limited entitlement programs to an education and government bureaucracy that stresses achievement and meritocracy. But one of the most significant innovations of Japan is its industrial policy which targets improving specific sectors of the economy by focusing on 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......
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