Grouping of Firms (Zaibatsu until end of WWII and keiretsu since) Responsible for both Japans harmonious labor-management relations and its harmonious government-business relations.
Term
Shinto
Definition
Original religion of Japan. Means "Way of the Gods." Emphasizes worthis of ancestral and nature spirits and of the emperor.
Term
Is the japanese economic system based on culture and religion?
Definition
Shintoism and Buddhism do not have much influence on Japanese economic thought or behavior, but the Japanese form of Confucianism does
Term
Zaibatsu
Definition
indistrial and financial business Conglomerates that dominated the economy. large family-controlled vertical monopolies consisting of a holding company on top, with a wholly-owned banking subsidiary providing finance, and several industrial subsidiaries dominating specific sectors of a market, either solely, or through a number of sub-subsidiary companies. Present up until WWII.
Term
Three Sacred Treasures of Labor-management relations
Definition
1) Enterprise unions 2) Life-long employment 3) seniority based wages
Term
j-mode
Definition
Japan. Characterized by horizontal coordination among operating units based on the sharing of ex post on-site information (learned results). depends on both long-term relationships between workers and firms and long-term relationships between banks and firms, which tend to hold for keiretsu members with lifetime employment systems
Term
h-mode
Definition
Used in US and Europe. combo of U and M. characterized by hierarchical separation between planning and implemental operation and the emphasis on the economies of specialization.
Term
under j-mode ringi-sho is incouraged.
Definition
the writing of memos by underlings that are channeled upward to superiors. an approval/signature document that Japanese employees create to obtain approval for new projects, expenditures, or process changes. Once created, the ringi-sho is submitted for signature to the relevant parties in ascending hierarchical order. In other words, if the signatures of an assistant manager, a manager, and a director are all necessary, the ringi-sho will be submitted first to the assistant manager, then to the manager, and finally to the director.
Term
oecd
Definition
organization for economic cooperation and development
Term
MITI
Definition
Ministry of International Trade and Industry
Term
Definition
Term
Definition
Term
revisionist criticize its workers as robots in rabbit hutches
Definition
japan
Term
educated males in its large companies enjoy early retirement and generous severence pay
Definition
Japan
Term
practiced relative bckwardness to its own advantage just post WWII causing it to be criticized as an imitator, rather than an innovator
Definition
japan
Term
unlike the US pracices/practiced weak monetary polict, including limited open market operations and a low reserve requirement. used faulty bank practices during the 90's
Definition
Japan
Term
categorized as imperialistic from late 1800's to WWII
Definition
Japan
Term
workforce tied to single firms by benefits which inhibit job mobility
Definition
Japan
Term
highest standard of living if measured by longevity and education
Definition
japan
Term
fasted growing post WWII economy 50's to the 90's
Definition
Japan
Term
has an economic iron triangle. practices industrial policy corporatism
Definition
Japan
Term
protects its domestic industries through bureaucratic red tape rather than with restrictive quotas or import tariffs. also, accused of dumping inexpensive products in american markets
Definition
Japan
Term
int he 1950's, docile company organized unions emerged and aggressive collective bagaining was abandoned in retern for paternalistic job security
Definition
Japan
Term
infamous for its "bubble economy"
Definition
Japan
Term
currently practices significant indicative planning, state directed capitalism
Definition
japan
Term
currently practices a form of social market economy
Definition
sweden and Japan?
Term
int he post WWII period, in response to violent labor strikes, the govt threw its weight behind the employers in order to break the lkabor unions
Definition
Japan?
Term
currently has a troublesome, increasing dependency ratio
Definition
Japan
Term
critical of Japan's work style and its ramnification of Japanese lifestyles
Definition
Revisionist (as it applies to Japan not socialism)
Term
familistic grouping of unlike forms under umbrella of a single bank or trabing company, post WWII
Definition
Keiretsu
Term
elaborate process of employee involvement in production process, bottom to top
Definition
J Mode
Term
uses economies of scale to provide R&D for new firms, facilitates closeout of firms going out of business, respectively
Definition
rationalization cartel, depression cartel
Term
operates fiscal policy, collects revenues, makes expenditures, makes tax laws to stimulate new products and technology
Definition
Ministry of Finance
Term
buys stock in corporations, make loans to corporations
Definition
giant commercial banks
Term
the most powerful government agency in Japan. guides industry
Definition
Ministry of International Trade and Industry
Term
lies between ROK and ROC
Definition
East china Sea
Term
educated males in large companies enjoy early retirement and generous severance pay
Definition
Japan
Term
practices weak monetary policy, including limited open market operations and a low reserve requirement
Definition
Japan
Term
provides few transfers, a minimal safety net, and makes little attempt to redistribute income
Definition
Japan?
Term
annexed formosa
Definition
Japan
Term
workforce is tied to single firms by benefits which inhibit job mobility
Definition
Japan
Term
highest standard of living if gauged by longevity and education
Definition
Japan
Term
in the G8
Definition
Germany and Japan
Term
exports high tech finished products and enjoys largest trade surplus in the world
Definition
Japan
Term
recently experienced sever macroeconomic turmoil, including contraction and deflation
Definition
Japan and (germany?)
Term
fastest growing post WWII economy
Definition
Japan
Term
currently experiencing the mostfinancial stress from bad loans. banking sector especially implicated
Definition
japan
Term
protects its domestic industries through bureaucratic red tape rather than with restrictive quotas and tariffs
Definition
Japan
Term
accused of dumping products in american markets to maintain a trade surplus
