Boom Time in Japan: High-Speed Growth 1960–73

Abstract

The years between 1960 and 1973 have the aura of a golden age for a Japan which was enjoying unprecedentedly high and sustained rates of economic growth. The official aim of doubling national income in a decade proved hopelessly conservative. Economic growth was accompanied by widespread and growing prosperity. More of the population came to perceive themselves as being middle class. In politics, the quiet premiership of the genial Ikeda Hayato from 1960 to 1964 calmed the frenetic, polarised and often violent political atmosphere that had enveloped the Kishi government and exploded into the 1960 Security Treaty crisis. The sense of political stability and tranquillity was boosted by the reassuring presence of Satō Eisaku, who succeeded Ikeda as prime minister in 1964 and would be Japan’s longest-serving premier. The growing sense of achievement, well-being and optimism had its most spectacular manifestation in the highly successful Olympic Games held in Tokyo in 1964. This Olympiad symbolically marked Japan’s return to world prominence. Towards the end of this ‘golden age’, however, economic, social and political developments began to shake this contentment.