The Recovery and Resurgence of the Japanese Economy from 1945 to 1961

The end of the Pacific War in 1945, should have economically and psychologically spelled doom for Japan. "By the end of the Pacific War the volume of Japan's industrial production was less than thirty per cent of her output in 1936.". "Tokyo was literally three quarters flattened. The Japanese Navy was at the bottom of the sea and so was most of the merchant marine[.]". The Japanese had no exports, no foreign trade, and inflation destroyed all of Japan's private savings. The total estimate of damage caused by the Pacific War to the Japanese General Wealth was 65 302 million Yen ; yet somehow, the Japanese found a way to recover its economy within ten years, despite numerous problems. Overall, the "Japanese economy...[was able to register] the highest growth rate in the world after World War II.". With astounding facts like this, one should consider why and how the Japanese were able to recreate a booming and wealthy nation despite all of its adversities. …