Individual project 2 Essay Example | Topics and Well Written Essays - 1000 words

Individual project 2 Essay Example | Topics and Well Written Essays - 1000 words

Individual project 2 - Essay Example The elevated productivity was due to the raise in capital, machines, innovation in technology, more experienced and educated labor, enhanced support from the government and favorable political policies. Therefore, Japan’s miraculous economy was in the past as compared to the modern times as it is facing obstacles of low growth and development rate. Although the economic growth also enhanced the standard of living of the Japanese as compared to the Americans (Flath, 2005). The important factor was that the income in Japan is evenly and fairly distributed in relation to United States. Similar to United States economy Japan has also turned out to be a manufacturing nation. Japan has been successful in getting cheap labor from the neighboring Southeast Asian countries. This alteration from a comparatively more service economy has also exhibited the alteration of preferences and tastes of the consumers. Japan is considered to be the eight most densely populated country around the globe.