this post was submitted on 11 Apr 2025
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What's the old economist joke? The four kinds of economies are developed countries, developing countries, Japan, and Argentina?
"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
Is Japan in there for thriving despite the resources their little islands can provide?
More for their weird economic position of the past 30 years.
us aid + extremely reliable trade partner = profit?
Developed so hard it's hurting their economy, more like.
https://en.wikipedia.org/wiki/Lost_Decades
That was well after 1971 though. 1971 was during the Japanese economic miracle.