Peter F. Drucker on Business and Society

CHAPTER TEN

Japan Tries for a Second Miracle

JAPAN WAS ALMOST overrun these last few years by Western economists, bankers, and industrialists who had come to study the “Japanese economic miracle.” Arthur Burns, Chairman of the Council of Economic Advisers under Eisenhower, was there in 1963, for instance; he was so impressed, according to reports, that he strongly recommended that President Kennedy adopt some of Japan’s tax and money policies to spur our laggard economy. A little later the London Economist sent a senior editor on a three months’ tour; the result was two book-length supplements in the magazine, the first of which was called “The ...