Jump to ContentJump to Main Navigation
Capital as Will and ImaginationSchumpeter's Guide to the Postwar Japanese Miracle$
Users without a subscription are not able to see the full content.

Mark Metzler

Print publication date: 2013

Print ISBN-13: 9780801451799

Published to Cornell Scholarship Online: August 2016

DOI: 10.7591/cornell/9780801451799.001.0001

Show Summary Details
Page of

PRINTED FROM Cornell University Press SCHOLARSHIP ONLINE (www.cornell.universitypressscholarship.com). (c) Copyright University of Cornell University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in Cornell for personal use. date: 01 June 2020

Japanese Capitalism under Occupation

Japanese Capitalism under Occupation

Chapter:
(p.65) 5 Japanese Capitalism under Occupation
Source:
Capital as Will and Imagination
Author(s):

Mark Metzler

Publisher:
Cornell University Press
DOI:10.7591/cornell/9780801451799.003.0006

This chapter describes the destabilization of Japanese capitalism in 1945–46. By the time Japan surrendered on August 15, 1945, its industry was already in crisis. Production and distribution were choked off by competitive hoarding of scarce strategic materials, the near cutoff of inward shipments by the U.S. naval blockade, and air raid destruction. A panoply of state controls also made production look less and less capitalistic. Financial capital flowed mainly through a complicated administrative circuitry that combined de facto state funding for private industry with de facto forced loans from private industry to the state. U.S. occupation authorities identified big business as part of a military–industrial complex that had conducted and profited by Japan's wars of aggression. Accordingly, they mandated the breakup of the zaibatsu big-business groups and began to purge from office the upper ranks of conservative business leadership and their politician allies. Thus, the first U.S. policy initiative vis-à- vis Japanese industry undertook to dissolve Japanese capitalism as hitherto constituted.

Keywords:   Japanese capitalism, postwar Japan, economic policy, U.S. policy, military–industrial complex, World War II

Cornell Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.