How Did The Zaibatsu Play In Japanese Economic Development

‘From 1868 the Zaibatsu played a prominent part in Japanese economic development.’ How valid is this assessment of the reasons for Japan’s industrial reforms? The Meiji period marked a tremendous turning point in the Japanese economy. Tokugawa, Japan was built off agriculture, yet by the end of the Meiji period, Japan had undergone immense industrialization. The main historical debate surrounds the Meiji era’s economic development. Is that the main cause? Some historians, such as Janet Hunter, posit that the exploitation of women's cheap labour was a vital cause of industrialisation. Whereas Macpherson argues for the role of government action, other historians, such as Hane, argue heavily for the role of knowledge gained from the Iwakura mission

Which proved to be crucial in gaining entry to the foreign silk market when the Italian silk market crashed. This demonstrates their determination to aid the Japanese economy, not profit. Thus, it can be determined that the Zaibatsu played a key role in the development of industries. Their success was determined by the actions of the government and the exploitation of workers. The role of the Meiji government proved to be integral to economic development. The Meiji government was responsible for the modernization of transport, communication, and banks. Communication, which proved invaluable in aiding trade between Japan. The introduction of banks proved vital. The role of banks in terms of lending money, controlling inflation, and facilitating adequate monetary flow into the economy is crucial. Addicot supports this view: "The dramatic economic growth following the Meiji Restoration was facilitated by the establishment of

As such, government action is the most important. Lastly, there was the legacy left behind by the Tokugawa regime. Tokugawa society was largely agriculturally based, with long traditions of rice farming and generations of farmers. Furthermore, the philosophy of Neo-Confucianism was heavily instilled in all classes in the caste system. This is important because, first, you have a huge number of fields and farmers. Secondly, because you have a population where the idea of working long hours and being subservient to your boss or master. This meant that, when the Meiji era started, more people moved to cities to work in factories. They would work extremely long hours and not complain. These neoconfucian values are what kept people in line, working for low pay, and contributed to the exponential growth of Zaibatsu, who relied on exploitative labour. Alongside this, the policy of sankin-kotai, or alternate attendance, contributed greatly to the new Meiji society. This is because Daimyo’s travels built up substantial road systems, trade routes, and shops on the long journey to