4. Spending in a Time of “Retrenchment”: Industrial Policy and the Military

Chapters in this book

1. Frontmatter i
2. Contents vii
3. Acknowledgments ix
4. Introduction: Departures from Orthodoxy 1
5. 1. From “Ōkuma Finance” to “Matsukata Finance,” 1873–1881 9
6. 2. Orthodox Finance and “The Dictates of Practical Expediency”: Influences on Matsukata 28
7. 3. Austerity and Expansion: The Matsukata Reform, 1881–1885 51
8. 4. Spending in a Time of “Retrenchment”: Industrial Policy and the Military 69
9. 5. Founding a Central Bank 88
10. 6. “Poor Peasant, Poor Country”? The Matsukata Deflation 112
11. Conclusion: The Matsukata Reform as “Expansionary Austerity” 135
12. Notes 143
13. Works Cited 177
14. Index 191