The aftermath of the dissolution of Zaibatsus, the Japanese combines: A study of the post-war development of monopoly in Japan. - Page 48 |
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the result, when the boom was over and the world-wide stagnation
started early in 1951> Japan had to again face its
time-honored problem of over-production and unemployment
due to the shortage of domestic demands and hampered export.
So, the government intervention in business through governmental
investment and loans continued, concentrating upon
heavy industries, including the still infant defense
industry. Selection of manufacturers eligible for such
governmental aid became more severe than before, lending
itself to a concentration of production and capital. It
goes without saying that Zaibatsus who have their roots in
heavy industries, and especially in defense industry,
benefited most by this governmental aid.
It may not be too much an over-simplification to say
that the neglected efforts for fostering the purchasing
power of the general public and for the thoroughgoing
rationalization and modernization of industry, which is to
a great extent attributable to the inflation policy, made
true stabilization of Japanese economy very difficult and
made continued government aid necessary. This aid, due to
its concentration to a limited number of big businesses,
naturally inflicted much disadvantage upon the small and
middle-sized businesses and indirectly upon taxpayers in
general.
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| Title | The aftermath of the dissolution of Zaibatsus, the Japanese combines: A study of the post-war development of monopoly in Japan. - Page 48 |
| Repository email | cisadmin@lib.usc.edu |
| Full text | the result, when the boom was over and the world-wide stagnation started early in 1951> Japan had to again face its time-honored problem of over-production and unemployment due to the shortage of domestic demands and hampered export. So, the government intervention in business through governmental investment and loans continued, concentrating upon heavy industries, including the still infant defense industry. Selection of manufacturers eligible for such governmental aid became more severe than before, lending itself to a concentration of production and capital. It goes without saying that Zaibatsus who have their roots in heavy industries, and especially in defense industry, benefited most by this governmental aid. It may not be too much an over-simplification to say that the neglected efforts for fostering the purchasing power of the general public and for the thoroughgoing rationalization and modernization of industry, which is to a great extent attributable to the inflation policy, made true stabilization of Japanese economy very difficult and made continued government aid necessary. This aid, due to its concentration to a limited number of big businesses, naturally inflicted much disadvantage upon the small and middle-sized businesses and indirectly upon taxpayers in general. |
