For over two decades, economists and political scientists have cited Japan to show just how effective a strong, well-designed industrial policy can be. Chalmers Johnson, president of the Japan Policy Research Institute, ably represented this point of view in his 1982 book MITI and the Japanese Miracle: The Growth of Industrial Policy, writing that "Japan's postwar economic triumph-that is, the unprecedented economic growth that has made Japan the second most productive open economy that has ever existed-is the best example of a state-guided market system currently available."

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