What Eating the Rich Did For Japan
The Zaibatsu, powerful family-owned businesses, controlled much of Japan's economy for many decades, accumulating vast wealth. However, after World War II, this changed dramatically. The Meiji government initially supported these businesses to industrialize Japan quickly, even selling state-owned companies to them. Families like Mitsui used their initial wealth, often from natural resources, to expand into many industries, creating large economic groups. As Japan became more militaristic in the 20th century, the Zaibatsu supported the war effort, growing even larger. But after the war, the government and the Occupation forces took strong actions to break up these powerful groups. They taxed the families' wealth heavily, redistributed land, and dissolved the Zaibatsu holding companies. This led to a significant reduction in the families' wealth and control. As a result, the Japanese economy shifted from being controlled by a few wealthy families to a new system where the government guided industries, focusing on exports and leading to Japan's economic growth in the following decades.
Key Vocabulary
To begin a course of action, especially one that is important or challenging.
Examples:
- The team embarked on a new project to develop a sustainable energy source.
- After years of planning, the explorer finally embarked on his journey across the continent.
- The company embarked on a major restructuring effort to improve efficiency.
To a very great extent; extremely.
Examples:
- The new policy proved immensely popular with the public.
- She was immensely grateful for the support she received during her recovery.
- The artist's work was immensely influential in the modern art movement.
Attracting attention because of being showy or extravagant.
Examples:
- He drove a flashy sports car that turned heads wherever he went.
- The politician's flashy rhetoric often overshadowed the substance of his proposals.
- Despite his success, he avoided flashy displays of wealth.
A fixed regular sum paid as a salary or allowance, typically to a clergyman or a student.
Examples:
- Graduate students often receive stipends to cover their living expenses while they study.
- The internship program offered a modest stipend to participants.
- The board approved a monthly stipend for the visiting researcher.
A large Japanese family-controlled vertically integrated business conglomerate, often involved in various industries and banking.
Examples:
- The pre-war zaibatsu held significant economic and political power in Japan.
- Many modern Japanese corporations can trace their origins back to the zaibatsu structure.
- The government's efforts to dismantle the zaibatsu after the war aimed to democratize the economy.
Spreading out over a large area in an untidy or irregular way.
Examples:
- The city had a sprawling urban area, with suburbs extending for miles.
- The old factory complex was a sprawling collection of buildings and workshops.
- The company's operations became increasingly sprawling as it acquired more subsidiaries.
Shrewdness or initiative; common sense.
Examples:
- It took a lot of gumption for her to start her own business with no prior experience.
- He showed real gumption in tackling the difficult problem head-on.
- Without gumption, even the best ideas can fail to materialize.
Someone who advocates or believes in militarism, which is the belief that a country should maintain a strong military capability and be prepared to use it aggressively to defend or promote national interests.
Examples:
- The rise of militarist ideologies often precedes periods of international conflict.
- The country's leadership adopted a more militarist stance in response to perceived external threats.
- Critics argued that the government's policies were becoming increasingly militarist, prioritizing military spending over social programs.
A group of close-knit and interrelated families.
Examples:
- The ancient clan was known for its strong traditions and loyalty among members.
- The business was run like a family clan, with key positions held by relatives.
- She felt a strong sense of belonging to her extended family clan.
Important or significant; having significant consequences or effects.
Examples:
- The court's decision had consequential implications for future legal cases.
- His speech was a consequential moment in the nation's political history.
- The changes to the regulatory framework were highly consequential for the entire industry.
Figuratively, a widespread, grasping, or insidiously pervasive influence or control.
Examples:
- The crime syndicate's tentacles reached into every level of the city's government.
- The multinational corporation extended its tentacles across various markets worldwide.
- The new technology's tentacles began to spread into unexpected areas of daily life.
A person, group, or state whose actions are controlled by another.
Examples:
- The new leader was widely seen as a puppet of the more powerful neighboring country.
- The small faction acted as a puppet for the larger political party.
- The company's CEO was a puppet of the board of directors, with little real power.
An abrupt or violent removal of a group of people from an organization or place.
Examples:
- The new regime conducted a swift purge of dissenting officials from the government.
- The company underwent a purge of underperforming employees to streamline operations.
- Historically, political purges have often led to significant social upheaval.
To match or surpass (a person or achievement), typically by imitation.
Examples:
- Young athletes often try to emulate the success of their sports heroes.
- The company sought to emulate the innovative strategies of its most successful competitor.
- Students were encouraged to emulate the clear and concise writing style of the author.
Extremely wicked or cruel acts, typically involving physical violence or injury.
Examples:
- The human rights organization documented numerous atrocities committed during the conflict.
- The historical record details the atrocities suffered by the civilian population.
- The international community condemned the atrocities carried out by the rogue regime.
Left out or excluded, either intentionally or unintentionally.
Examples:
- Several key details were omitted from the initial report, leading to confusion.
- When preparing the summary, she accidentally omitted a crucial paragraph.
- The recipe specified all ingredients except for one, which was clearly omitted.
The transfer of a business, industry, or service from public to private ownership and control.
Examples:
- The government's privatization agenda aimed to reduce state intervention in the economy.
- The privatization of the national airline led to increased competition and lower fares.
- Critics argued that the privatization of essential services could lead to reduced access for some citizens.
Relating to or characteristic of a plutocracy, which is a society or system ruled or controlled by people of great wealth.
Examples:
- The plutocratic elite held significant sway over political decisions in the city.
- Critics argued that the tax policies favored the plutocratic class at the expense of the poor.
- The novel depicted a highly stratified society with a small, plutocratic ruling class.
Used in the informal phrase 'willy-nilly' to mean without direction or planning; haphazardly.
Examples:
- The documents were scattered willy-nilly across the desk.
- He made decisions willy-nilly, without considering the long-term consequences.
- The old files were stored willy-nilly in various boxes, making them difficult to find.
Relating to or characterized by a monopoly, where a single entity or group has exclusive control over a commodity or service.
Examples:
- The company faced accusations of engaging in monopolistic practices to stifle competition.
- The government intervened to break up the monopolistic control of the industry.
- Consumers often suffer from higher prices and less choice in monopolistic markets.