“Income Doubling” Plan 1960

The Income Doubling Plan was a plan that Japan set up and the objectives were to double the individual income, to double the gross national product, attain full employment through expansion in employment opportunities, and to raise the living standard of the people of Japan. This plan was set forth to and address the issue of income disparity among different classes in Japanese society. The plan was a success and it was more successful than everyone thought it would be. The plan was expected to increase a growth rate of 9 percent per year for the first three years, but it actually exceeded this expectation and the economy grew at a rate of 10 percent. The target of doubling levels of personal income were originally thought to be fulfilled in ten years, but actually were reached in a little over four years.

I think a specific set of plans with a specific agenda is a great way to improve a countries economy and the individual levels of prosperity. When a country sets goal and gives the people a specific set of dates when the goals are set to be fulfilled, it is easy for the people to get behind a plan that is easy to follow and easy to see the specified outcome. I think Japan did a great job of meeting these goals and exceeding the set dates. When a government exceeds expectations, they gain the trust of the people, which is always a good thing.