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Rich Nation, Poor People

In: The Japanese Economic Crisis

Author

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  • Jon Woronoff

Abstract

Judging by most of the standard indicators, Japan has prospered over the years and become a highly affluent nation. It already accounts for 13 percent of world gross national product. That is second only to the United States and well ahead of any European country. It is also the world’s biggest creditor. Per capita income reached $20,185 in 1990, placing it second only after the Swiss. Most people have cars, clothing, consumer gadgets, household appliances and sporting gear galore. More and more travel abroad or take vacations at home.

Suggested Citation

  • Jon Woronoff, 1996. "Rich Nation, Poor People," Palgrave Macmillan Books, in: The Japanese Economic Crisis, chapter 6, pages 99-126, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37568-0_6
    DOI: 10.1057/9780230375680_6
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