Stock Market Capitalism: Welfare Capitalism: Japan and Germany versus the Anglo-Saxons

by Ronald Dore

Ronald Dore places recent developments in Japan in the broader context of gradual changes in modern patterns of capitalism common to all industrial societies--a process that he labels marketization plus financialization. His central focus is on the tendency for shareholder value to be preached as the sole legitimate objective of corporate executives, against the traditional aligment of Japan on the productivist, employee-favoring side of the divide.

Genres: Japan, Economics

278 pages, Hardcover

First published January 1, 2000

Reviews

[Stacey]

Disclaimer: I have only read part of this book, since only a few chapters are assigned for class and I don't have time right now to read the whole thing. Still, it is fascinating!! It is an interesting, thoughtful discussion of the corporate governance structures in the U.S. and U.K. in contrast to very different systems in Japan and Germany. Corporate governance: I know, I thought it was boring too, but I was wrong! In this economic crisis it is important to understand corporate governance, and furthermore it is important to understand that the U.S. system is not the only, and probably not the best, way to have a functioning, capitalist economy. I can't wait to read the rest of this book during my break.

[Tobias · Rating 4 out of 5]

Somewhat dated account of why efforts to move Japan's economy in a more liberal direction hadn't succeeded (thus far). This book could use an update to see whether reformers had more success in the past decade than they had in the 1990s.