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submitted 6 months ago by PugJesus@lemmy.world to c/historymemes@lemmy.world

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[–] PugJesus@lemmy.world 36 points 6 months ago (2 children)

What's the old economist joke? The four kinds of economies are developed countries, developing countries, Japan, and Argentina?

[–] grue@lemmy.world 32 points 6 months ago

"There are four types of countries in the world—developed, undeveloped, Japan, and Argentina."

— Simon Kuznets, who won the Nobel prize in economics in 1971

[–] Kolanaki@pawb.social 7 points 6 months ago (1 children)

Is Japan in there for thriving despite the resources their little islands can provide?

[–] PugJesus@lemmy.world 15 points 6 months ago (1 children)

More for their weird economic position of the past 30 years.

[–] kaprap@leminal.space 2 points 6 months ago (1 children)

us aid + extremely reliable trade partner = profit?

[–] PugJesus@lemmy.world 11 points 6 months ago (1 children)

Developed so hard it's hurting their economy, more like.

[–] Danquebec@sh.itjust.works 1 points 6 months ago

That was well after 1971 though. 1971 was during the Japanese economic miracle.