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Japan — The First Superstate

In: The New International Money Game

Author

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  • Robert Z. Aliber

    (University of Chicago)

Abstract

In 1970 Herman Kahn, physicist and nuclear war theorist, predicted that Japan would become the ‘First Superstate’ — that its GDP would double between 1970 and 1975, and again between 1975 and 1980 — a fourfold expansion in a decade. Between 1970 and 2000, annual growth rates would average 9 percent a year, so that by the year 2000 GDP in Japan would be nearly 16 times the 1970 level. The news was heartening to the Japanese and frightening to most other countries because continued rapid growth would lead to declines in the world prices of the goods that the Japanese produced — and to comparable declines in the prices of similar goods produced in other industrial countries.

Suggested Citation

  • Robert Z. Aliber, 2011. "Japan — The First Superstate," Palgrave Macmillan Books, in: The New International Money Game, edition 0, chapter 21, pages 300-313, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-24672-0_22
    DOI: 10.1057/9780230246720_22
    as

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