What about Japan? (Capitalism)

[Hawkeye48]

Japan's economy expanded incredibly fast from 1960 to 1990. But it's slowed down somewhat now. Probably due to their huge public debt. Japan's public debt is somewhere around 150 percent of her GDP and the highest in the industrialized world. Their economy is a bubble waiting to burst. As big as our national debt is in the United States, it's nothing compared to Japan's.

[Mark S.]

Originally Posted by briarwood

Okay, so if capitalism is so socially damaging, then why is Japan such a sparkling success as a country? They have a microfraction of the socialism we have over here, and yet they seem to do just fine. Everything over there is capitalism. And it works!

Someone from the left please try to explain this to me...

I hardly consider myself "from the left," but to answer your question...

Because the US rebuilt the Japanese economy after WWII, specifically under the policies of Harry S. Truman and the implementation of the Marshall Plan. Much of this promoted strong labor unions, worker rights, and (has already been state) universal health coverage for all citizens.

[evilnewbie]

Originally Posted by Hawkeye48

Japan's economy expanded incredibly fast from 1960 to 1990. But it's slowed down somewhat now. Probably due to their huge public debt. Japan's public debt is somewhere around 150 percent of her GDP and the highest in the industrialized world. Their economy is a bubble waiting to burst. As big as our national debt is in the United States, it's nothing compared to Japan's.

All this and the Japanese don't even have a serious military force. The U.S. provides the Japanese their "security" free-of-charge. So without even a significant defense budget, they still manage to be in HUGE debt... guess that socialized health care program isn't really paying off... something is going to crash... and its FREAKING expensive to live over there... doesn't anyone notice this? The U.S. and Japan are apples and oranges...