ABSTRACT
In the editorial of Tōyō Keizai Shimpō, Ishibashi Tanzan (1884–1973) continued his review of the economic problems and policies of Japan from the years of Taishō Democracy to the start of Japan’s resurrection after 1945. He was unique in his critical stance against the imperialistic expansion policies and his integrity as a liberal. If we think over another course of Japan before 1945, which differs from the path ending with the disastrous war, his views provide precious suggestions. This chapter discusses Ishibashi’s ideas compared to J. M. Keynes. Ishibashi learned much from Keynes, from his criticism of the Versailles Treaty and the concept of monetary reform to the scheme of macro-economic thinking. However, in economic matters, Ishibashi was always inclined to the productive use of capital and labor. Keynes’s aesthetic antipathy against utilitarianism was foreign to Ishibashi’s ‘new liberalism.’
