Abstract
Historians have generally considered 1881 to be a pivotal year in the development of the Meiji political economy. After a confrontation with the other oligarchs on the question of constitutional government, Ōkuma Shigenobu fell from power. That same year Matsukata Masayoshi became Finance Minister and began to privatize the industrial projects that Ōkuma and Ōkubo had built in the 1870s. This change in policy did mark a shift in government policy to a more laissez-faire approach to economic policy, but government leaders continued to argue that they had a moral obligation to protect and nurture the people as circumstances warranted.
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Notes
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© 2006 John H. Sagers
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Sagers, J.H. (2006). Establishing a Firm Foundation for Economic Development. In: Origins of Japanese Wealth and Power. Palgrave Macmillan, New York. https://doi.org/10.1057/9781403982902_7
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DOI: https://doi.org/10.1057/9781403982902_7
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