From Foot Soldier to Finance Minister: Takahashi Korekiyo, Japan’s Keynes (Harvard East Asian Monographs)

From his birth into the lowest stratum of the samurai class to his assassination by right-wing militarists, Takahashi Korekiyo (1854-1936) lived through tumultuous times that shaped the course of modern Japan. This biography underscores the profound influence of the charismatic finance minister on the political and economic development of Japan.

From his birth in the lowest stratum of the samurai class to his assassination at the hands of right-wing militarists, Takahashi Korekiyo (1854-1936) lived through tumultuous times that shaped the course of modern Japanese history. Takahashi is considered "Japan's Keynes" in many circles because of the forward-thinking (and controversial) fiscal and monetary policies—including deficit financing, currency devaluation, and lower interest rates—that he implemented to help Japan rebound from the Great Depression and move toward a modern economy.

Richard J. Smethurst's engaging biography underscores the profound influence of the seven-time finance minister on the political and economic development of Japan by casting new light on Takahashi's unusual background, unique talents, and singular experiences as a charismatic and cosmopolitan financial statesman.

Along with the many fascinating personal episodes—such as working as a houseboy in California and running a silver mine in the Andes—that molded Takahashi and his thinking, the book also highlights four major aspects of Takahashi's life: his unorthodox self-education, his two decades of service at the highest levels of government, his pathbreaking economic and political policies before and during the Depression, and his efforts to stem the rising tide of militarism in the 1930s. Deftly weaving together archival sources, personal correspondence, and historical analysis, Smethurst's study paints an intimate portrait of a key figure in the history of modern Japan.

"From his birth in the lowest stratum of the samurai class to his assassination at the hands of right-wing militarists, Takahashi Korekiyo (1854-1936) lived through tumultuous times that shaped the course of modern Japanese history. Takahashi is considered "Japan's Keynes" in many circles because of the forward-thinking (and controversial) fiscal and monetary policies - including deficit financing, currency devaluation, and lower interest rates - that he implemented to help Japan rebound from the Great Depression and move toward a modern economy." "Richard J. Smethurst's biography underscores the profound influence of the seven-time finance minister on the political and economic development of Japan by casting new light on Takahashi's unusual background, unique talents, and singular experiences as a charismatic and cosmopolitan financial statesman." "Along with the many personal episodes that molded Takahashi and his thinking, the book also highlights four major aspects of Takahashi's life: his unorthodox self-education, his two decades of service at the highest levels of government, his path-breaking economic and political policies before and during the Depression, and his efforts to stem the rising tide of militarism in the 1930s. Weaving together archival sources, personal correspondence, and historical analysis, Smethurst's study paints an intimate portrait of a key figure in the history of modern Japan."--Jacket Takahashi Korekiyo Acknowledgments Contents Tables and Figures Takahashi Korekiyo Introduction 1. A Remarkable Beginning, 1854–67 2. Takahashi in San Francisco, 1867–68 3. Many Mentors, Few Teachers: Takahashi’s Career in and out of Government, 1869–81 4. Japan’s First Trademark and Patent Laws, 1881–89 5. Maeda Masana and the Debate over Industrial Policy, 1882–85 6. Managing a Silver Mine in Peru, 1889–90 7. Entering the Bank of Japan, 1892–1904 8. Fundraising During the Russo-Japanese War: 1904 9. Fundraising During the Russo-Japanese War: 1905 10. The Lessons of Wars, 1906–18 11. Taishō Democracy, 1918–27 12. “Japan’s Keynes”: Japan and the World Depression, 1929–34 13. Takahashi’s Fiscal Policies and the Rise of Militarism, 1932–36 Conclusion: Takahashi’s Economic Philosophy and Its Roots Appendix: Takahashi’s Memoirs Reference Matter Notes Works Cited Index Harvard East Asian Monographs A remarkable beginning, 1854-67 Takahashi in San Francisco, 1867-68 Many mentors, few teachers: Takahashi's career in and out of government, 1869-81 Japan's first trademark and patent laws, 1881-89 Maeda Masana and the debate over industrial policy, 1882-85 Managing a silver mine in Peru, 1889-90 Entering the Bank of Japan, 1892-1904 Fundraising during the Russo-Japanese War: 1904 Fundraising during the Russo-Japanese War: 1905 The lessons of Wars, 1906-18 Taisho democracy, 1918-27 "Japan's Keynes": Japan and the world depression, 1929-34 Takahashi's fiscal policies and the rise of militarism, 1932-36 Conclusion: Takahashi's economic philosophy and its roots.