Comparative Economics: U.K. vs. Japan :: Economics Essays

The economy of a estate is a major indication of its success. One aspect of a nations frugalal success or failure is the system of g everyplacenment. Whether a nation is socialistic, communistic, control by absolute sovereignty, or based on capitalistic principles nates be a key factor in a countrys frugal success or failure. Government is the foundation of an economy precisely it is not what determines its success. Issues that determine a nations economical success let in growth strategies, improved or increased resources, investment and savings, government policies, trade, impertinent direct investment, income distribution, labor allocation, innovations in technology, and several other economic issues. I feel that economic growth is the main indicator of economic success. Additionally, innovations in technology, improving gentle capital, and improving foreign direct investment (FDI) be three issues that can lead to economic growth.In the following leaven I will try to compare devil highly veritable economies, Japan and The fall in Kingdom. I will emphasize the success of their economies and how human capital, advancing technology (innovation), and FDI have contributed to their current success or failure. I will briefly discuss the contemporary hi write up of each country, exhaustively cover their current conditions, and end with expectations for their future.Introduction Comparison of Japan and the United KingdomThe U.K. and Japan seem natural subjects for comparison. British and Japanese observers as well have long been fascinated by the many parallels (and the even to a greater extent numerous divergences) in the histories of these two island nations. Particularly interesting about these two was the "economic role reversal which occurred between Japan and Britain over the mannikin of the 20th century. In 1900, the United Kingdom was the worlds dominant colonial, financial and maritime power, as well as a center of industrial produc t and technological innovation. Japan was a mere up-start, a precocious and aspiring, but still unthreatening, economic competitor in East Asia. The beginning of the twentieth century, and more accurately the 1950s, saw Japan and Great Britains economic role reverse. Although Britain has enjoyed healthy growth rates and rising standards of living over the past 100 years, it has been progressively eclipsed by Japan as an economic superpower and an international model. Indeed, Britains accomplishments have paled in comparison to Japans meteoric rig out while Japan has emerged as the outstanding economic "success story" of the twentieth century, Great Britains relatively modest performance has been both disapprove and confounding.Brief Contemporary History