JAPAN: Cost Accounting

According to a Tokyo columnist, Tanzan Ishibashi never learned to count money as a boy, and in early manhood was something of a spendthrift. Today, at 72, Ishibashi is one of Japan's foremost economists, but a reputation for unorthodoxy persists. Last week, becoming Japan's new Premier (TIME, Dec. 24), his first act was to attempt to discount widespread impressions that he: 1) favors an inflationary policy; 2) plans unlimited trade with Red China; 3) opposes U.S. policy on Japan.

In talks with industrialists, Ishibashi said that while he favored an "expanding economy," he would keep tight control over...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!