What the United States Can Learn from Japan

What The United States Can Learn From lacquer lacquer and the Four half-size Dragons in order to achieve their industrialization goals experience a diverse set of policies ranging from limited entitlement programs to a education and government activity 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 up(a) particular 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 suffice foster emerging high tech dutyes and help existing U.S. business remain competitive with East Asia. In Japan the government some(prenominal) during the Meiji period and the post World War II period followed a policy of active, sector selective industrial targeting. Japan utilise 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 pore its attention on emulating western technology such as trains, firebrand production, and textiles.

The Meiji leaders took taxes levied on agriculture to fund the development of these novel industries. Following World War II Japanese industries apply 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 support 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 sleep together reversal of the economic policies of Japan and the Four Little Tigers; kind of of fostering new businesses and high tech industry it supports out of appointee and low tech firms who have... If you want to get a secure essay, order it on our website: Orderessay

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