Growth, Human Development and Economic Policies in Japan: 1955-1993

The Japanese society is known around the world for accomplishing astounding economic growth in the post-war era and at the same time realizing a commendable degree of equality in the distribution of income. Sustaining low rates of unemployment in the presence of business cycles poses a real wonder for macroeconomists. Overall achievement in human development measures reported in the existing issues of the Human Development Report is also very high. Yet there seem to be many problems that remain to be resolved. Clearly there is a need for a well-balanced evaluation of the achievements of the four decades.