stackyFACTSJapan’s postwar economic miracle wasn't driven by strict Soviet-style central planning or pure free-market magic.
Japan’s postwar economic miracle wasn't driven by strict Soviet-style central planning or pure free-market magic. It was largely orchestrated by MITI bureaucrats issuing 'administrative guidance'—informal, legally non-binding memos politely suggesting what corporations should do. If companies ignored these polite suggestions, they mysteriously found their import quotas slashed or loan applications stalled. It was macroeconomic steering via supreme bureaucratic guilt-tripping.
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