Download or read book The Mechanism of Economic Development written by Kenʼichi Inada and published by Oxford University Press, USA. This book was released on 1992 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a model of economic development in what are generally termed as mono-cultural economies, applied largely to Japan, but also including empirical evidence from other countries. A major feature of the book is the theory which explains the mechanism of industrial development in an originally subsistence economy with a very limited capitalist sector. The theory explains a "take-off" in industrialization as well as the possibility of its failure within a consistent model, which takes into account the important role of food and labor supply, as well as the performance of the subsistence sector in this process. This book will interest anyone concerned or involved with the Japanese economic system.