Journal of Economic Literature
Book Reviews
2026-08-28
Randall Morck of University of Alberta reviews “The Fable of the Keiretsu: Urban Legends of the Japanese Economy” by Yoshiro Miwa, J. Mark Ramseyer,. The EconLit Abstract of the reviewed work begins “Explores and explains the truth about several urban legends concerning the Japanese economy, including the existence of the keiretsu. Discusses the fable of the keiretsu and of the zaibatsu; the myth of the main bank and outside directors; legends of government guidance; and the economic malaise in 1990s Japan. Miwa is Professor of Economics at the University of Tokyo. Ramseyer is Mitsubishi Professor of Japanese Legal Studies at Harvard Law School. Index.”