Takahashi Korekiyo

Takahashi Korekiyo (1854–1936) was a Japanese statesman who served as prime minister and finance minister. He is known for monetary and fiscal policies that helped Japan recover from the Great Depression.

Takahashi economic policy: A Japanese recovery program that combined currency depreciation, monetary expansion, and public spending during the 1930s. This policy package shows how Takahashi used fiscal and monetary tools to counter economic contraction.
Hamaguchi Osachi: A Japanese politician who served as prime minister from 1929 to 1931 and supported the gold standard. Hamaguchi’s policies preceded Takahashi’s recovery measures and embodied a sharply different monetary course.
Meiji Restoration: The political transformation beginning in 1868 that restored imperial rule and accelerated Japan’s modernization. Takahashi’s career unfolded within institutions built during the Meiji transformation.
May 15 Incident: A 1932 coup attempt in which naval cadets and army cadets assassinated Prime Minister Inukai Tsuyoshi. The killing of Takahashi occurred amid the same rising political violence against civilian government.
Shōwa Depression: Japan’s severe economic downturn in the late 1920s and early 1930s, marked by falling prices and financial distress. Its deflationary pressures were the problem Takahashi’s expansionary policies sought to reverse.
Great Depression in Japan: The severe economic downturn that affected Japan from 1929 and prompted major policy changes. The crisis created the conditions for Takahashi’s recovery program.
Inoue Junnosuke: A Japanese finance minister and central banker who pursued deflation and the return to the gold standard. Inoue’s austerity and gold-standard policy contrasted with Takahashi’s later expansion.
Yokohama Specie Bank: A Japanese foreign-trade bank founded in 1880 that later became a major institution in overseas finance. Takahashi’s early banking career included service at this institution.
February 26 Incident: A 1936 attempted coup in Tokyo in which young army officers killed senior political and military officials. Rebel officers assassinated Takahashi during this uprising.
Deflation: A sustained decline in the general price level of goods and services. Takahashi’s monetary expansion aimed to end the deflation associated with the earlier gold-standard policy.

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