Early Japanese Capitalism - Stuff That I Find Interesting

The video explores the development of Japanese capitalism, starting with the unification of Japan in the late 16th century, which led to centralized marketplaces. The Dojima Rice Exchange in Osaka became one of the world's first futures markets, crucial for merchants and samurai. Companies like Mitsui and Sumitomo were founded, evolving from fabric and spiritual books to copper and metal trade. These companies laid the groundwork for Japan's industrialization, benefiting from Western techniques, making Japan's transition smoother compared to other nations.

What was the significance of the Dojima Rice Exchange in Osaka during the 17th century?

• It was the first stock market in the world.

• It was a place where rice was used as a form of currency.

• It was a market for trading silk and textiles.

• It was a center for trading precious metals.

How did the Mitsui family change the retail business in Japan?

• By selling goods door-to-door.

• By opening the first department store.

• By introducing fixed prices in shops.

• By trading exclusively in rice.

What role did the Mitsui family play in Japan's economy after the Meiji Restoration?

• They became one of the big four companies guiding Japan's policies.

• They were the sole importers of Western goods.

• They established the first bank in Japan.

• They were responsible for Japan's agricultural policies.

What was the initial business of the Sumitomo clan before they expanded into copper and metal trading?

• Textile manufacturing

• Rice trading

• Spiritual books

• Silk production

How did the Sumitomo clan benefit in the 19th century?

• By inventing new agricultural tools.

• By establishing trade routes to Europe.

• By monopolizing the rice market.

• By adopting Western techniques and machinery.