Which economic system based on private ownership of the means of production and their operation for profit was employed during the reign of Emporer Meiji?
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Emperor Meiji Emperor Meiji (明治天皇 , Meiji-tennō , November 3, 1852 – July 30, 1912) , or Meiji the Great (明治大帝 , Meiji-taitei ) , was the 122nd Emperor of Japan according to the traditional order of succession, reigning from February 3, 1867 until his death on July 30, 1912. He presided over a time of rapid change in the Empire of Japan, as the nation quickly changed from an isolationist feudal state to a capitalist and imperial world power, characterized by the Japanese industrial revolution.
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Capitalism Capitalism is an economic system and an ideology based on private ownership of the means of production and their operation for profit. Characteristics central to capitalism include private property, capital accumulation, wage labor, voluntary exchange, a price system and competitive markets. In a capitalist market economy, decision-making and investment are determined by the owners of the factors of production in financial and capital markets, whereas prices and the distribution of goods are mainly determined by competition in the market.
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Economic system An economic system is a system of production, resource allocation, and distribution of goods and services within a society or a given geographic area. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community. As such, an economic system is a type of social system. The mode of production is a related concept. All economic systems have three basic questions to ask: "what" to produce, "how" to produce and in what quantities, and "who" receives the output of production.
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Maejima Hisoka Baron Maejima Hisoka (前島 密 , January 24, 1835 – April 27, 1919) , born 上野 房五郎 (Ueno Fusagorō ) , was a Japanese statesman, politician, and businessman in Meiji-period Japan. Maejima founded the Japanese postal service, and is known as 郵便制度の父 (Yūbin Seido no Chichi ) , or "Father of the Postal System".
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Momosuke Fukuzawa Momosuke Fukuzawa (福澤 桃介 "Fukuzawa Momosuke", June 25, 1868 – February 2, 1938) was a Japanese businessman nicknamed "The Wizard of the Money Markets" for his financial success and "The King of Electrical Power" for being the first Japanese to introduce hydroelectric power to the country.
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Meiji period The Meiji period (明治時代 , Meiji-jidai ) , also known as the Meiji era, is a Japanese era which extended from October 23, 1868 to July 30, 1912. This period represents the first half of the Empire of Japan during which Japanese society moved from being an isolated feudal society to its modern form. Fundamental changes affected its social structure, internal politics, economy, military, and foreign relations. The period corresponded to the reign of Emperor Meiji after 1868, and lasted until his death in 1912. It was succeeded by the Taishō period upon the accession of Emperor Taishō to the throne.
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Korea under Japanese rule Korea under Japanese rule began with the end of the short-lived Korean Empire in 1910 and ended at the conclusion of World War II in 1945. Japanese rule of Korea was the outcome of a process that began with the Japan–Korea Treaty of 1876, whereby a complex coalition of the Meiji government, military, and business officials sought to integrate Korea both politically and economically into the Empire of Japan. A major stepping-stone towards the Japanese occupation of Korea was the Japan–Korea Treaty of 1905, in which the then-Korean Empire was declared a protectorate of Japan. The annexation of Korea by Japan was set up in the Japan–Korea Treaty of 1910, which was never actually signed by the Korean Regent, Gojong.
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Ministries of Japan The ministries of Japan are the most influential part of the executive branch of the Japanese government. Each ministry is headed by a Minister of State appointed by the Prime Minister. In postwar politics, the posts of ministers have been given to senior legislators, mostly of the LDP. However, few ministers serve for more than one or two years to develop the necessary grasp of the organisation to become really influential. Thus, most of the power lies within the ministries, with the senior bureaucrats.
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Scrip of Edo period Japan During the Edo period, feudal domains of Japan issued scrip called "hansatsu" (藩札 ) for use within the domain. This paper currency supplemented the coinage of the Tokugawa shogunate. Most scrip carried a face value in silver coinage, but gold and copper scrip also circulated. In addition, some scrip was marked for exchange in kind for a commodity such as rice. In addition to those issued by the domains, forms of paper money were also issued by rice brokers in Osaka and Edo. Originally used only as a representation of amounts of rice (subdivisions of "koku") owned by the scrip-holder and held in the Osaka or Edo merchants' storehouse, these scrips quickly came to be used as currency.
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Market Revolution The Market Revolution which occurred in the United States, in the 19th century, is a historical model which argues that there was a drastic change of the economy, which disoriented and deordinated all aspects of the market economy in line with both nations and the world. Charles Grier Sellers, a leading historian of the Market Revolution, portrays it as a highly negative development that marked the triumph of capitalism over democracy. He argues that this was one of the most significant transformations of America within the first half of the nineteenth century—indeed, the defining event of world history—the evolution from an agrarian to a capitalist society. Sellers observes:
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Meiji Constitution The Constitution of the Empire of Japan (Kyūjitai: 大日本帝國憲法; Shinjitai: 大日本帝国憲法 "Dai-Nippon Teikoku Kenpō"), known informally as the Meiji Constitution (明治憲法 "Meiji Kenpō"), was the constitution of the Empire of Japan which had the proclamation on February 11, 1889, and had enacted since November 29, 1890 until May 2, 1947. Enacted after the Meiji Restoration in 1868, it provided for a form of mixed constitutional and absolute monarchy, based jointly on the Prussian and British models. In theory, the Emperor of Japan was the supreme ruler, and the Cabinet, whose Prime Minister would be elected by a Privy Council, were his followers; in practice, the Emperor was head of state but the Prime Minister was the actual head of government. Under the Meiji Constitution, the Prime Minister and his Cabinet were not necessarily chosen from the elected members of the Diet.
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Relations of production Relations of production (German: "Produktionsverhältnisse") is a concept frequently used by Karl Marx and Friedrich Engels in their theory of historical materialism and in "Das Kapital". It is first explicitly used in Marx's published book "The Poverty of Philosophy", although Marx and Engels had already defined the term in "The German Ideology".
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Market economy A market economy is an economic system where decisions regarding investment, production, and distribution are based on the interplay of supply and demand, which determines the prices of goods and services. The major defining characteristic of a market economy is that investment decisions, or the allocation of producer good, are primarily made through capital and financial markets. This is contrasted with a planned economy, where investment and production decisions are embodied in an integrated plan of production established by a state or other organizational body that controls the factors of production.
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Mitsubishi The Mitsubishi Group (三菱グループ , Mitsubishi Gurūpu , also known as the Mitsubishi Group of Companies or Mitsubishi Companies, and informally as the Mitsubishi "Keiretsu") is a group of autonomous Japanese multinational companies in a variety of industries. Its total revenue is about 1.4% of Japan's GDP.
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Economy of Indonesia Indonesia has the largest economy in Southeast Asia and is one of the emerging market economies of the world. The country is also a member of G-20 major economies and classified as a newly industrialised country. It is the sixteenth largest economy in the world by nominal GDP and is the seventh largest in terms of GDP (PPP). Its GDP per capita however ranks below the world average. Indonesia still depends on domestic market, and government budget spending and its ownership of state-owned enterprises (the central government owns 141 enterprises) and the administration of prices of a range of basic goods including, rice, and electricity plays a significant role in Indonesia market economy, but since the 1990s, the majority of the economy has been controlled by private Indonesians and foreign companies.
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Health care system in Japan The health care system in Japan provides healthcare services, including screening examinations, prenatal care and infectious disease control, with the patient accepting responsibility for 30% of these costs while the government pays the remaining 70%. Payment for personal medical services is offered by a universal health care insurance system that provides relative equality of access, with fees set by a government committee. All residents of Japan are required by the law to have health insurance coverage. People without insurance from employers can participate in a national health insurance programme, administered by local governments. Patients are free to select physicians or facilities of their choice and cannot be denied coverage. Hospitals, by law, must be run as non-profit and be managed by physicians. For-profit corporations are not allowed to own or operate hospitals. Clinics must be owned and operated by physicians.
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Imperial Household Agency The Imperial Household Agency (宮内庁 , Kunai-chō ) is an agency of the government of Japan in charge of state matters concerning the Imperial Family and also keeping of the Privy Seal and State Seal of Japan. From around the 8th century AD up to the Second World War, it was named the Imperial Household Ministry (宮内省 , Kunai-shō ) .
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Hoko system The Hoko system (Japanese: 保甲制度 ) describes an institution of administrative control, adopted by the Japanese colonial government between 1898 and 1945 in Taiwan. The model was based on placing responsibility on every level of the community hierarchy. The system was an effective mechanism in producing domestic stability and social order for the Japanese government.
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Yoshikawa Akimasa Count Yoshikawa Akimasa (芳川顕正 , January 21, 1842 – January 10, 1920) was a bureaucrat, statesman and cabinet minister, active in the Meiji and Taishō period Empire of Japan.
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Gokenin A gokenin (御家人 ) was initially a vassal of the shogunate of the Kamakura and the Muromachi periods. In exchange for protection and the right to become "shugo" (governor) or "jitō" (manor's lord), in times of peace a "gokenin" had the duty to protect the imperial court and Kamakura, in case of war had to fight with his forces under the shogun’s flag. From the middle of the thirteenth century, the fact that "gokenin" were allowed to become "de facto" owners of the land they administered, coupled to the custom that all "gokenin" children could inherit, brought to the parcelization of the land and to a consequent weakening of the shogunate. The "gokenin" class ceased to be a significant force during the Muromachi period and was supplanted by the figure of the "daimyō". During the successive Edo period, the term finally came to indicate a direct vassal of the shogun below an "omemie" (御目見 ) , meaning that they did not have the right to an audience with the shogun.
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Abu Bakar of Johor Sultan Abu Bakar Ibni Al-Marhum Tun Temenggung Raja Daing Ibrahim (3 February 1833 – 4 June 1895) (Jawi:المرحوم سلطان سير ابو بكر ابن المرحوم تماڠڬوڠ دايڠ إبراهيم سري مهاراج جوهر), also known as Albert Baker , the Temenggong of Johor. Informally, he was known as “Father of Modern Johor”. He was the 1st Sultan of Modern Johor, the 21st Sultan of Johor and the first Maharaja of Johor from the House of Temenggong. He was also informally known as "The Father of Modern Johor", as many historians accredited Johor's development in the 19th century to Abu Bakar's leadership. He initiated policies and provided aids to ethnic Chinese entrepreneurs to stimulate the development of the state's agricultural economy which was founded by Chinese migrants from Southern China in the 1840s. He also took charge of the development of Johor's infrastructure, administrative system, military and civil service, all of which were modelled closely along Western lines.
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Tokugawa coinage Tokugawa coinage was a unitary and independent metallic monetary system established by Shogun Tokugawa Ieyasu in 1601 in Japan, and which lasted throughout the Tokugawa period until its end in 1867.