Japan Remodeled: How Government and Industry Are Reforming Japanese Capitalism

In the 1980s, the Japanese economic tsunami appeared set to engulf every country in its path. In the 1990s, just as deliriously, its economy receded. Ideologues of all stripes had a field day, because what looked like a state-guided model first produced stunning success (nearly a quarter-century of annual growth around 8 percent after 1950) and then stunning failure (more than a decade of stagnation after a late1980s stock market and real estate crash).