Is this a true picture? http://www.paecon.net/PAEReview/issue38/Jacoby38.htm
It’s true that some Japanese companies have sought to emulate American practices. The bellwether in this group is Sony, whose recent performance trails that of traditional companies like Canon and Toyota. This is not good advertising for the shareholder-value model in Japan. Similarly, the arrest this January of Takefumi Horie for alleged financial improprieties has hurt those who portrayed Horie as the kind of brash, aggressive entrepreneur that was needed to restore vitality to Japan. One of Horie’s main promoters was Prime Minister Koizumi, whose reputation has been tarnished along with Horie’s. -- Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901
