The Japanese economy has shown paradoxical changes. Its successes in forming a company-centred society generated the long downturn toward zero-growth capitalism. Successful spread of information technologies resulted in deterioration of economic life among working people and a wide fall in birth rate. At the zenith of the Japanese model of company system, a huge bubble swelled, so as to prepare a prolonged depression throughout the 1990s. Neoliberalism with spiral reversal of capitalist development toward more competitive markets rather promoted difficulties among people. A lucid reconsideration of neoliberalism through concrete Japanese experiences.About the Author: MAKOTO ITOH is Professor of Economics at Kokugakuin University, Tokyo, and Emeritus Professor of the University of Tokyo. His books include The Basic Theory of Capitalism, The World Economics Crisis, Japanese Capitalism and Political Economy for Socialism.
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