Report on Political Management of Capitalist Economies Japan

Introduction of Political Management of Capitalist Economies Japan

Japan has been in the middle of a primary regime shift for the last numerous years. Three fundamental old regimes have been consistently removing changes. The first one is the Liberal Democratic Party or LDP which eventually ended with an internal disintegration in the party itself. The second party led by Hosokawa Morihiro from the Japan New Party, which was the young successor of a well-known samurai family. This party paved together an ideologically distinct, a coalition of seven parties that supported him to become the first non-LDP PM in Japan. The third one is the Social Democratic Party of Japan or SDPJ which ended within the political wilderness about 50 years since Murayama Tomiichi, its leader turned out as the PM in collaboration with the LDP, along with Sakigake which is a small conventional party. Conversely, the SDPJ was also ended by wasteful ideological solidity. As a result, the party came up as the heaviest loser in the 1996 elections.

The uncontrolled party repositioning was appeared in the middle of 1990s in Japan, whereas there were kaleidoscope groupings and also regroupings which eventually led cynics to propose that the politicians in Japan along with the political groupings were ended up like passengers who only remain stand on a waiting platform when there will be a perfect time for them to board in. Numbers of private parties and governmental alliances burst out and faded with impulsiveness. This uncertain political stage has made Japan face many essential challenges for the country to grow (Pempel, 2018).

The Evolution of Modern States of Political Management of Capitalist Economies Japan

The concept of the Evolution of Modern States represents that nothing is important than a new way of explanation of the change. The new way gets beyond the stasis of rationalist traditions. It also focuses on approaches of political economy regards to the institutionalism of history. The model of political and historical scholarship are the reasons for the evolutionary speed for the changes in the socially and economically systems of Japan.

In addition to this, at the moment, Japan has been considered as a country with a great economy system and thus, it is fair to be said that capitalism works for Japan. Most essentially, the typical capitalism performed in Japan is greatly different from the capitalism performed by the Western countries.

Modern states are adopting change in their social and economic system. According to the research study, political fragmentation in the United States is causing problems and difficulties. While low taxes and limited authority of public was a concerning topic for the US in past. Sweden is advancing with the passage of time however, still high taxes and income inequality are promote challenging situation (Steinmo, 2010).  

The Global Economic Crisis of Political Management of Capitalist Economies Japan

            Japan's severe conditions due to the global financial crisis since different structural changes have occurred in its ecosystem. These changes have influenced their industrial and trade changes. Japan has a collaborative labour-management system that influences the employment of a lifetime. The state of Japan pointed industrial policies in which less militarized international relations are also involved which widely expresses the model for the more competitive twenty-first century.

After 1991, the image of Japanese economic weakness was influenced by the decade of recession-less which is enjoyed by the U.S. economy. It is continued features which may depend on the current slowdown extent of the U.S. There are many weaknesses in the economic stock market of Japan through which governance crisis shatter the various dimension related to the new economy. Economic crisis and stock market governance crisis are growing due to the relative backwardness of capitalism in Japan (Amyx, 2006).

Politics of Regime Change in Japan

The party structure in Japan has presented a small opportunity for the national economic policies to be the subject matter for the electoral contestation or constituent. As noted, the electoral organization functioned adjacent to "either/or" decisions amid the parties. In the context of fairness, the Japanese citizens had a significant motive not to complain about the electoral restrictions. Most of the Japanese citizens usually expect constant improvements within their economic conditions. Thus, with extremely low unemployment, and the general income levels equality in Japan especially democratic, Japan lacked extensive citizens who could declare the noticeably injured and effected citizens by the general conventional policy shape.

             Hence, the requirements derived from the social sectors are deflected due to the fact that the Japanese politicians have been interpreting them in their approach. It might be that politics along with society is in persistent collaboration and the political determination has been operating inside the borders of social change. On the other hand, it does not essentially mean that social change is instantaneously amalgamated into the political ground. Social requirements in democratic scenery are not overlooked, but, it might take time for them to be interpreted and revealed in the political arena. As soon as social plates will move, politics will surely move as well but maybe not accurately at the same step (Park, 2004).

Annotated Bibliography

Jacobs, M., & Mazzucato, M. (2016). Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth. Wiley.

This book explained that the capitalist economies of the developed countries have transformed human society by using an unparallel drive, and have viewed as dysfunctional. Not merely did a crash in finance could lead to the longest economic depression, but some improved economies have come back to a normal stage where the development visions endure to be vague.  

Rajan, R. G., & Zingales, L. (n.d.). Saving capitalism from the capitalists: Unleashing the power of financial markets to create wealth and spread opportunity, 2004.

            The journal describes that, in the situation where a downturn appears in the economy of a country, the capitalist would be more likely to put their focus on the competition’s costs which arrived from the free markets rather than focus on the opportunity that they have created. Also, unemployed people might get the same worries one another, which will eventually easier they get organized in a union. The capitalist along with the political group offered by the worried would then capture the political plan by using this scenario. According to the research article, large scale organization require modern institutional infrastructure in a substantial amount to assist the capitalist economy.  In these markets, competitive force is threats to the survival of other companies. Competition in the market encourage companies working at small and large scale to show more and more competitive power for their sustainable survival in the market.

Nocos, C. (2015, May 21). The Political Economy of Social Capital in Japan: How Welfare Institutions and Industrial. Retrieved October 2019, from http://www.pp.u-tokyo.ac.jp/graspp-old/courses/2014/documents/graspp2014-5150011-7.pdf

            This journal proposed that the social capital in Japan is focused on the market organizations throughout the political institutions and is considered a concern for the policymakers in the country. Furthermore, even though high trust within the main companies has decreased the adjustment costs, but there have already an expansion of social capital and have restructured the system which might grind down that trust.

Ono, H. (2018). Why do the Japanese work long hours? Sociological perspectives on long working hours in Japan, 35-49.

            This book has explained that the Japanese government has established some legislation along with policy measures in the context of work conditions in Japan. Even though this Japanese employment system was viewed as one of the sources contributed the national strength. But nowadays, the inadequacy recorded about these systems are under inspection. The Japanese employment system is insensitively criticized as an out of date system which unable to meet the modifications in the labour market.

Excluding this, the advancement of technology has facilitated information system and production processes. In Japan, many large organizations have replaced human labour with a robotic and automatic system. The role of the human being in these organization is to just monitor and manage the production process rather than producing products by hands. As a result of this industrial sector as well as the service sector in these modern states is progressing and leading the industries all over the world. However, other than automation system still human labour skills are a reason for leading industrial system in Japan.  Big data analytics has also integrated a big pool of information for researchers in an academic and professional organization. Thus modern states are generating revenue more than under-development countries because of these technological advancements and appropriate use of resources including funds, cost, materials, and human being (Ono, 2018). 

Gordon, A. (2017). New and enduring dual structures of employment in Japan: The rise of non-regular labour, the 1980s–2010s. Social Science Japan Journal, 9-36.

The journal proposed that even though the Japanese economy was increasing quicker than other countries in the highly developed capitalist world, the global competition along with the globalization of capital conveyed amplified strain on business in Japan to produce income. The Japanese companies engaged more employees in non-regular status to restrain costs and get the flexibility in extra employees. However, globalization was merely a part and an indirect reason for the increase of non-regular employment in the country.

Arbatli, E. C., Davis, S. J., Ito, A., Miake, N., & Saito, I. (2017). National Bureau of Economic Research. Policy uncertainty in Japan

            The journal has described that upward economic policy uncertainty advance indicates deteriorations within the macroeconomic performance in Japan which is represented by urge response meaning intended for investment, employment and also productivity. Japan needs reliable policy agendas along with a strong policy system that would positively manipulate its macroeconomic performance by dropping or reducing the uncertainties of policy at some limited extent.

Conclusion of Political Management of Capitalist Economies Japan

Many major problems represent a weak political system which is the reason for the inability to engage in the process of reforms which is very necessary for the country to face many challenges of life successfully. It is due to the paused economy and high debt. The other reasons for falling demography include continuing income, poor quality of welfare provision, gender inequality, and resistance to immigration. The rate of unemployment has been increasing day by day in many other businesses. Japanese also have been facing crises universally due to lifetime employment in activist states which are considered as the thought of like a piece of pre-modern capitalism which is too inflexible and there is no creativity to corporate with an enhancing globalized nor also with the world of high-tech.

References of Political Management of Capitalist Economies Japan