What the U.S. can learn from Japan-

What the U.S. can learn from Japan- Japan and the Four Little Dragons in order to achieve their industrialization goals have a diverse set of policies ranging from limited entitlement programs to a education and government bureaucracy that stresses achievement and meritocracy. But one of the most significant innovations of Japan and the Four Little Dragons is there industrial policy which targets improving specific sectors of the economy by focusing R&D, subsidies, and …

…the U.S. governments reliance on individual initiative and a lack of government support for new industries has allowed Japan and the Four Little Dragon's to catch up to the U.S. in the area of high technology. In the coming years the U.S. could not just lose its advantage but fall behind if it fails to redirect government subsidies from failing firms to emerging sectors of the economy copying Japan's industrial development model.