From Foot Soldier to Finance Minister

“Smethurst’s biography is a major achievement reflecting some 20 years of work. Not to exclude the general reader—the book is a very good read—Takahashi’s biography should interest not only Japanologists, but also students of economic history everywhere. Smethurst admits that it was difficult to balance the anecdotes of Takahashi’s adventures with the necessary analysis of his historic accomplishments. He has succeeded, giving us a wise and immensely competent biography of a great Japanese and a vibrant human being.”—Rod Armstrong, Asahi Shimbun

“Japan emerged from worldwide economic depression in the 1930s more successfully and quickly than the other modern world economies. Without denying the role of rapid militarization in prompting economic growth, this new biography of Japan’s seven-time finance minister shows how Takahashi’s countercyclical fiscal and monetary policies overcame a steep deflationary spiral and in the process engineered a remarkable record of growth built on a novel deficit spending approach… In telling Takahashi’s story, Smethurst uncovers some of the pushes and pulls shaping Japan’s modern economic growth, and it is a story he tells well.”—W. D. Kinzley, Choice