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...

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