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Industrial Organization

In: Korea’s Economic Miracle

Author

Listed:
  • Robert Castley

    (University of Manchester)

Abstract

After the Second World War the Japanese ‘were seeking to build an integrated production network that could compete on price grounds against America and Europe. They wanted to copy the American system and then surpass the United States in manufacturing efficiency ... Japanese large industrialists deliberately copied and then enhanced an American-style mass production in the auto and the other machinery sectors’.1 The more ‘flexible’ Japanese firms ‘fragmented market tastes by creating and responding to specialized consumer needs. As consumers became aware of the possibilities of distinctive products, they began to demand more carefully tailored goods. Increasingly success came to depend on creating or catering to submarkets in what formerly had been homogeneous mass markets’.2

Suggested Citation

  • Robert Castley, 1997. "Industrial Organization," Palgrave Macmillan Books, in: Korea’s Economic Miracle, chapter 7, pages 211-221, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-25833-8_8
    DOI: 10.1007/978-1-349-25833-8_8
    as

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