Steven Ericson has written what promises to be the most thorough study of the Japanese railroad industry in the English language. In addition to the body of research on the industry itself, Ericson has provided an astute analysis of the politics of development and the relationship between state and private enterprise in the Japanese railroad industry during the Meiji period. He explores the economic role of government and the nature of state-business relations in the course of Japan's modern transformation, and at the same time challenges the tendency of current scholarship to minimize the role of the Japanese government as well as commercial banks in Meiji industrialization. By providing a fresh perspective on the "strong state/weak state" debate through detailed analysis of the 1906-1907 railway nationalization, Ericson's study sheds new light on the Meiji origins of modern Japanese industrial policy and politics, filling a major gap in the available literature on the Meiji political economy.
With a new look at the 1880s financial reforms in Japan, Steven J. Ericson's Financial Stabilization in Meiji Japan overturns widely held views of the program carried out by Finance Minister Matsukata Masayoshi. As Ericson shows, rather than constituting an orthodox financial-stabilization program—a sort of precursor of the "neoliberal" reforms promoted by the IMF in the 1980s and 1990s—Matsukata's policies differed in significant ways from both classical economic liberalism and neoliberal orthodoxy. The Matsukata financial reform has become famous largely for the wrong reasons, and Ericson sets the record straight. He shows that Matsukata intended to pursue fiscal retrenchment and budget-balancing when he became finance minister in late 1881. Various exigencies, including foreign military crises and a worsening domestic depression, compelled him instead to increase spending by running deficits and floating public bonds. Though he drastically reduced the money supply, he combined the positive and contractionary policies of his immediate predecessors to pull off a program of "expansionary austerity" paralleling state responses to financial crisis elsewhere in the world both then and now. Through a new and much-needed recalibration of this pivotal financial reform, Financial Stabilization in Meiji Japan demonstrates that, in several ways, ranging from state-led export promotion to the creation of a government-controlled central bank, Matsukata advanced policies that were more in line with a nationalist, developmentalist approach than with a liberal economic one. Ericson shows that Matsukata Masayoshi was far from a rigid adherent of classical economic liberalism.
In this thorough and detailed study of the development of the Japanese railroad industry during the Meiji period, Steven Ericson explores the economic role of government and the nature of state-business relations during Japan’s modern transformation. Ericson challenges the tendency of current scholarship to minimize the roles of the Japanese government and commercial banks in Meiji industrialization. By providing a fresh perspective on the “strong state/weak state” debate through a detailed analysis of the 1906–1907 railway nationalization, Ericson’s study sheds new light on the Meiji origins of modern Japanese industrial policy and politics, filling a major gap in the available literature on the Meiji political economy.
With a new look at the 1880s financial reforms in Japan, Steven J. Ericson's Financial Stabilization in Meiji Japan overturns widely held views of the program carried out by Finance Minister Matsukata Masayoshi. As Ericson shows, rather than constituting an orthodox financial-stabilization program—a sort of precursor of the "neoliberal" reforms promoted by the IMF in the 1980s and 1990s—Matsukata's policies differed in significant ways from both classical economic liberalism and neoliberal orthodoxy. The Matsukata financial reform has become famous largely for the wrong reasons, and Ericson sets the record straight. He shows that Matsukata intended to pursue fiscal retrenchment and budget-balancing when he became finance minister in late 1881. Various exigencies, including foreign military crises and a worsening domestic depression, compelled him instead to increase spending by running deficits and floating public bonds. Though he drastically reduced the money supply, he combined the positive and contractionary policies of his immediate predecessors to pull off a program of "expansionary austerity" paralleling state responses to financial crisis elsewhere in the world both then and now. Through a new and much-needed recalibration of this pivotal financial reform, Financial Stabilization in Meiji Japan demonstrates that, in several ways, ranging from state-led export promotion to the creation of a government-controlled central bank, Matsukata advanced policies that were more in line with a nationalist, developmentalist approach than with a liberal economic one. Ericson shows that Matsukata Masayoshi was far from a rigid adherent of classical economic liberalism.
Not everyone bought into the Bronze Age right away, and Rosen describes and classifies the stone tools that continued to be made and used in the Middle East for the next two thousand years. He considers subtypes, function, distribution, chronology, the organization of production, styles, the relationship between lithic and metal technology, and other aspects. Over 100 drawings and maps provide archaeologists with a guide to identifying finds. Annotation copyrighted by Book News, Inc., Portland, OR
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