The Great Transformation Of Japanese Capitalism

Contrary to the dominant vision, according to which Japan is suffering from "arthritis", we argue that Japanese capitalism has experienced a great transformation from the early 1980s. We get this result from an analysis at three levels:
- corporate level, characterized by an increasing heterogeneity in terms of organization and performance
- institution level, characterized by a decay of previous forms of coordination and a revival
- social compromise level, characterized by a surge of multidimensional inequalities
We also show that Japan is not converging toward Anglo-saxon or European types of capitalism but follow its own original trajectory.