 The Meiji period saw the new government pour its economic resources into industry and modern technology.As the Meiji government emerged as the chief promoter of private enterprise, enacting a series of pro-business policies, it poured venture capital into many private businesses focused on modern technology, but many of these failed to take off and were sold at a loss to bidding businessmen but the power of the great zaibatsu business conglomerates such as Mitsui and Mitsubishi would eventually become global household names.From the onset, the Meiji rulers embraced the concept of a free market economy and adopted British and North American forms of free market capitalism.