Between Crisis and Militarism: Japan’s Interwar Struggle for Economic Stability and Democratic Survival
DOI:
https://doi.org/10.54097/1mw45613Keywords:
Japan, Economic crisis, Interwar period.Abstract
This study examines Japan's socioeconomic and political dynamics during the interwar period (1918–1939), revealing the interplay of global economic dislocation and internal institutional fragility. Despite post-WWI industrial growth, Japan faced domestic overproduction, inflation, and rising inequality, exacerbated by the Great Depression and the 1927 Shōwa Financial Crisis. Rural areas suffered from plummeting commodity prices and debt, while urban unemployment and labor unrest soared, eroding trust in democratic governance. Politically, democratic experimentation coexisted with entrenched patronage systems, enabling military influence and corruption. Policy responses evolved from fiscal austerity and gold standard adherence to expansionary measures and structural reform proposals, including land redistribution, financial regulation, and industrial diversification. However, implementation faced elite resistance and geopolitical constraints, leading to militarist escalation. Comparative analysis with Sweden’s social democratic model highlights alternative pathways to stability. The study concludes that Japan’s failure to enact inclusive reforms propelled it toward total war, underscoring the critical linkage between economic equity, political legitimacy, and social cohesion in avoiding fascist-militarist trajectories.
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