Abstract
Through the 1960s, Japan maintained an annual rate of growth of the Gross National Product of 11 percent, the highest in the world. During this decade, environmental pollution and urban problems became severe, and creeping inflation set in. With the exception of some Marxists, however, most economists praised this rapid growth and none were critical. Herman Kahn predicted that Japan would overtake the United States and become the world's leading economic power, and Japan's government economists made plans on the optimistic assumption that a growth rate in excess of 10 percent would be sustained throughout the 1970s.This article can also be found at the Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at the Monthly Review website.
Published Version
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