Environmental Factors Influence U.S. and Term Paper

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Table 1.

Japan -- Knowledge Economy Index.

Index Japan (most recent)

Group: All Japan (1995)

Group: All USA (most recent)

Group: All USA (1995)

Group: All Knowledge Economy Index

Index Japan (most recent)

Group: All Japan (1995)

Group: All USA (most recent)

Group: All USA (1995)

Group: All Knowledge Index

Index Japan (most recent)

Group: All Japan (1995)

Group: All USA (most recent)

Group: All USA (1995)

Group: All Econ. Incentive Regime

Index Japan (most recent)

Group: All Japan (1995)

Group: All USA (most recent)

Group: All USA (1995)

Group: All Education

Index Japan (most recent)

Group: All Japan (1995)

Group: All USA (most recent)

Group: All USA (1995)

Group: All Innovation

Index Japan (most recent)

Group: All Japan (1995)

Group: All USA (most recent)

Group: All USA (1995)

Group: All Information Infrastructure

The analysis shows that although both the U.S. And Japan remain at the forefront of these respective categories among the countries of the world, the U.S. still leads Japan across the board but both countries have experienced moderate downturns in all key metrics since 1995 except in terms of innovation. According to Karoly and Panis (2004), the economies of the United States and Japan are expected to continue to be in the forefront of new technological developments and their applications in markets for products and services.

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In the future, those countries expected to be on the leading edge of the technology revolution are those that have well-developed physical and regulatory/legal infrastructures, highly educated workforces (particularly it professionals), efficient capital markets, and economies and societies that are open, flexible, and adaptive to change; clearly, Japan and the U.S. enjoy those qualities and more.

Conclusion

The research showed that the United States and Japan have entered the 21st century as free market powerhouses, but they reached this position in the world community by very different paths indeed. The United States is a highly heterogeneous country, while Japan is a relatively homogeneous society; further, both countries are characterized by vastly different worldviews that embrace different religions and cultural practices. Despite these stark differences, though, the research also showed that both countries are populated by hard-working and industrious people who have identified effective ways to compete in an increasingly globalized economy, and it can reasonably be said that the U.S. And Japan will continue to value their commonalities while celebrating their respective differences far into the future......

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