This collection of essays comparing the economic systems of the world's second- and fifth-largest economies raises some fascinating issues. Japan and Italy began their economic development at roughly the same time in the nineteenth century and, in important respects, from the same starting points; moreover, both economic systems have deviated considerably from the Anglo-American model of capitalism. The confrontation of the economic histories of the two nations raises a number of issues which have, up to now, been neglected or taken for granted. Each of the chapters focuses on a specific theme, including industrial organization, corporate governance, the labor market, the banking system, and, on a more micro-level, the silk industry. Many of the chapters are co-authored by economists from both countries, to ensure completeness of coverage and factual accuracy.