It May Be Argued That Japan's Explicit Promotion of Its

question 24

Essay

It may be argued that Japan's explicit promotion of its microchip industry was an excellent example of successful industrial policy. What criteria would you apply to determine whether such a policy is or is not successful?
Judging from your own stated criteria, was Japan's exercise successful?
Why or why not?
What information would a government require in order to increase the probability that its industrial policy would promote long-term self-generated economic growth?

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Definitions:

Economic Espionage

The act of secretly gathering confidential economic information or trade secrets from competitors for competitive advantage.

Proprietary Information

Confidential business information that provides an enterprise with a competitive edge, such as patents, trade secrets, and special recipes.

Transnational Consumers

Consumers who transcend their local markets and make purchases based on global rather than national preferences.

Middle-class Markets

Consumer segments comprising individuals or households with middle-range income levels, often targeted by businesses for their sizable purchasing power.