Abstract
The Caves-Uekusa chapter "Industrial Organization" in Asia's New Giant, edited by Patrick and Rosovsky — and the book which grew out of their chapter (1) — are, I believe, the first explicit presentation of industrial organization applied to the Japanese economy, in either Japanese or English, though various writers, including myself, have addressed aspects of it. (2) Japanese economists have done outstanding work in macroeconomics, but overall, work in the micro field has not been as extensive. Entry into "modern economics" from Marxian economics, which overwhelmingly dominated Japanese academic economics until the sixties, has typically been through the macro route. Accordingly, the Caves-Uekusa study is only to be the more welcomed.
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