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CHOICE Review

McCraw (Harvard Business School) is editor and coauthor of Regulation in Perspective (1981) and author of Prophets of Regulation (1984). Most of the 14 contributors to this remarkably well integrated anthology are connected with Harvard. The work features across the board comparisons of the US and Japan and coverage of the emergence of competitiveness and friction between the two countries. Specific topics treated include the comparative trade performance in world markets with protectionist tendencies; mutual investment from one country to the other; the political economy of structural adjustment in agriculture under conditions of strong government support to agriculture in both countries; Japan's energy policy and orientation toward performance objectives which led to the creation of institutional channels for meaningful deliberation (in contrast to the American failure in this respect); comparative environmental regulation; financial deregulation; fiscal policy and the relations between business and government; and an original chapter on disinvestment. The stress is on similarities, differences, and lessons from mutual experiences. Useful for upper-division and graduate collections.-B. Mieczkowski, Ithaca College