Frustrating at times, but ultimately rewarding. What I wished for with this book was a clear argument; at times it seemed like a collection of chapters that didn't build to a particular thesis. The coverage of topics was pretty good. I think part of the difficulty is that this is genuinely a very difficult topic to write engagingly about for all but a select academic audience. It ultimately left me with more questions than answers.
The author repeatedly states that Japanese is among the most complicated written languages ever devised; this doesn't seem to impinge on his suggestion near the end of the book that Japan could do well to encourage more immigration to fix underperforming sectors of the economy. Similarly, the author will indicate at issues with women not having full economic freedoms and the effect that has on productivity in general, but he doesn't spend enough time on the root causes or potential solutions to such a problem.
This book is best in the sections that give a general overview of Japanese economic history, and weakest on social and cultural history, as well as when it actually comes to policy proposals and forecasts for what lies ahead.
“Both the Japanese Marxists and their intellectual opponents in the United States were correct that during the centuries after the collapse of the Heian order, Japan evolved a political setup that in some key respects did resemble European feudalism.”
“The collective nature of the Japanese economic juggernaut – famously labeled “Japan, Inc.” – suggests that Japan's was more akin to a socialist than a capitalist economy, and indeed Japan has been called the most successful socialist economy ever.”
“Japanese women have never, unlike their Western counterparts, been placed on pedestals. [...] Every public gesture she made, every word she uttered (and the language with its separate verb endings and pronouns for women almost made this automatic) was expected to demonstrate submissiveness and a consciousness that she stood lower in the vast Japanese hierarchy than men of her age, breeding, and class.”
“Japan's “bubble economy” of the late 1980s was, in many respects, the greatest financial bubble ever, even when measured against the recent housing and derivatives bubble in the United States.”
“Japan's original sin lies in its attempts to separate itself from Asia. The sin is understandable but the repercussions have been horrendous. When Japan was shaken awake from its self-imposed 'sakoku' (“isolation”) in the mid-nineteenth century, it discovered a world that had been turned upside down. The China that had always loomed as the origin of power, culture, and technology in the Japanese conceptual universe had been reduced to a stuck pig being butchered by barbarians from distant lands who turned out not to be barbarians at all but the avatars of modernity.”
“(Among other things, the current president of South Korea, Park Geun-hye, is the daughter of Park Chung-hee who, more than any other single person, can be credited with Korea's own economic miracle. His socialization and thinking about issues of power and development were almost entirely Japanese; he was educated in colonial Manchuria, studied at Japan's top military academy, served in the Japanese army, adopted a Japanese name, and, when he seized power in 1961, proceeded to force-march his country into the ranks of the world's industrialized nations with a rule book that could have been written by Japan's 'kakushin kanryō' [“Reform Bureaucrats”] – the men we meet back in Part One who put the Japanese economy on a war footing in the 1930s, administered Manchuria and would, in the postwar world, form the nucleus of MITI.)”
“Finally, the kind of leader Japan needs would recognize that it is not enough, as Abe has done, to call for the tapping of what many label Japan's greatest underutilized resource: its women. Large numbers of women will not become more economically productive until something is done to alleviate the burdens of elder and child care that fall disproportionately on their shoulders. [...] In the meantime, a good Japanese leader would encourage some carefully controlled immigration to relieve labor shortages in fields such as construction and nursing.”