By Robert Boyer, Toshio Yamada
This publication is worthy for college kids and researchers learning the economies of Japan and different east Asian nations in addition to all these attracted to styles of growth and recession around the globe.
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Additional info for Japanese Capitalism in Crisis: A Regulationist Interpretation
The country now faces a prolonged period of very low growth. During the past quarter of a century, the Japanese economy has experienced a humiliating downturn from industrial winner to economic failure. At present, there is no end to theories reinterpreting the Japanese system, and it is no exaggeration to say that Japanese capitalism stands poised at one of the most important crossroads of the post-war era. What has been the nature of Japanese capitalism of the 50 years of the post-war era, or the 25 years following the first oil shock, and how is it changing today?
Capitalist society reproduces itself not only through the market mechanism but also various institutions which are ‘embedded’ in the socio-economic system. The ‘mode of régulation’ refers to a set of rules for the social game that are produced by the five institutional forms. Therefore, an important point for analysing the ‘mode of régulation’ is to investigate how major institutions articulate with one another and to make clear what structural effects this articulation produces socially and economically.
Differently stated, Western workers have bargained within the framework Accepting subordination ↔ Job control while Japanese workers have, figuratively speaking, bargained within the framework of Accepting subordination ↔ Job-loss control In other words, Japanese do not seek to restrict the contents of duties—of jobs—but rather to restrict the possibilities of job loss. 3 Needless to say, the employment transaction is not expressly stipulated in writing but exists in the form of unspoken agreements between labour and management.
Japanese Capitalism in Crisis: A Regulationist Interpretation by Robert Boyer, Toshio Yamada