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

The economy of a nation is a major indication of its success. One aspect of a nations stinting success or failure is the system of government. Whether a nation is socialistic, communistic, ruled by exacting sovereignty, or based on capitalistic principles groundwork be a key factor in a countrys scotch success or failure. Government is the foundation of an economy but it is not what determines its success. Issues that determine a nations economic success include growth strategies, improve or increased resources, investment and savings, government policies, trade, foreign direct investment, income distribution, elbow grease 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 homo capital, and improving foreign direct investment (FDI) are three issues that can lead to economic growth.In the following essay I entrust try to compare two highly developed economies, lacquer and The coupled Kingdom. I will emphasize the success of their economies and how human capital, advancing technology (innovation), and FDI have contributed to their genuine success or failure. I will in brief discuss the contemporary history of each country, thoroughly cover their current conditions, and end with expectations for their future.Introduction Comparison of japan and the United KingdomThe U.K. and lacquer seem natural subjects for comparison. British and Japanese observers alike have yearn been fascinated by the many parallels (and the even more numerous divergences) in the histories of these two island nations. Particularly interesting about these two was the "economic parting reversal which occurred between Japan and Britain over the course of the twentieth century. In 1900, the United Kingdom was the worlds dominant colonial, financial and naval power, as sinewy as a center of industrial production and technological in novation. 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 large Britains economic role reverse. Although Britain has enjoyed healthy growth rates and rising standards of living over the past atomic number 6 years, it has been progressively eclipsed by Japan as an economic superpower and an transnational model. Indeed, Britains accomplishments have paled in comparison to Japans meteoric rise while Japan has emerged as the outstanding economic "success story" of the twentieth century, Great Britains relatively modest performance has been both discouraging and confounding.Brief contemporary History