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comacipublished in Socialism
04/11/2022

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Is Japan's postwar "economic miracle" a triumph of capitalism, and if not, why not?

I've seen a few people argue on the internet that Japan's postwar economic boom is an example of "capitalist success" and proof that capitalism works. I don't believe this is the case, but there aren't many articles on the subject. Please help us understand why Japan's economic development isn't due to capitalism or capitalist policies, and what the real reasons were, and how they can be distinguished from capitalism's success.

According to what I've read, the US invested heavily, but I'm having trouble coming up with a cohesive explanation for why Japan's economic success isn't due to capitalism as a system, but rather to other factors.

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