A Bowl for a Coin is the first book in any language to describe and analyze the history of all Japanese teas from the plant’s introduction to the archipelago around 750 to the present day. To understand the triumph of the tea plant in Japan, William Wayne Farris begins with its cultivation and goes on to describe the myriad ways in which the herb was processed into a palatable beverage, ultimately resulting in the wide variety of teas we enjoy today. Along the way, he traces in fascinating detail the shift in tea’s status from exotic gift item from China, tied to Heian (794–1185) court ritual and medicinal uses, to tax and commodity for exchange in the 1350s, to its complete nativization in Edo (1603–1868) art and literature and its eventual place on the table of every Japanese household. Farris maintains that the increasing sophistication of Japanese agriculture after 1350 is exemplified by tea farming, which became so advanced that Meiji (1868–1912) entrepreneurs were able to export significant amounts of Japanese tea to Euro-American markets. This in turn provided the much-needed foreign capital necessary to help secure Japan a place among the world’s industrialized nations. Tea also had a hand in initiating Japan’s “industrious revolution”: From 1400, tea was being drunk in larger quantities by commoners as well as elites, and the stimulating, habit-forming beverage made it possible for laborers to apply handicraft skills in a meticulous, efficient, and prolonged manner. In addition to aiding in the protoindustrialization of Japan by 1800, tea had by that time become a central commodity in the formation of a burgeoning consumer society. The demand-pull of tea consumption necessitated even greater production into the postwar period—and this despite challenges posed to the industry by consumers’ growing taste for coffee. A Bowl for a Coin makes a convincing case for how tea—an age-old drink that continues to adapt itself to changing tastes in Japan and the world—can serve as a broad lens through which to view the development of Japanese society over many centuries.

This eye-opening book offers a disturbing new look at Japan's post-war economy and the key factors that shaped it. It gives special emphasis to the 1980s and 1990s when Japan's economy experienced vast swings in activity. According to the author, the most recent upheaval in the Japanese economy is the result of the policies of a central bank less concerned with stimulating the economy than with its own turf battles and its ideological agenda to change Japan's economic structure. The book combines new historical research with an in-depth behind-the-scenes account of the bureaucratic competition between Japan's most important institutions: the Ministry of Finance and the Bank of Japan. Drawing on new economic data and first-hand eyewitness accounts, it reveals little known monetary policy tools at the core of Japan's business cycle, identifies the key figures behind Japan's economy, and discusses their agenda. The book also highlights the implications for the rest of the world, and raises important questions about the concentration of power within central banks.

An account of the central importance of money in the ordinary business of the life of different people throughout the ages from ancient times to the present day. It includes the Barings crisis and the report by the Bank of England on Barings Bank; information on the state of Japanese banking; and, the changes in the financial scene in the US.

The role of the Japanese yen as an international currency is assessed. It is found that the determinants of international-currency use imply some increase for the yen’s use in international finance; however, the implications for the yen’s use in international trade are mixed. It is also shown that, despite Japan’s emergence as the world’s largest net creditor nation, Japan’s capital outflows have not significantly facilitated the yen’s internationalization. Data are presented showing that, although the yen’s use as an international currency has increased, it is still rather modest. Wider use of the yen as a regional currency in Asia has occurred, though a “yen-zone” does not appear to be emerging.

Offers a comprehensive analysis of the historical experiences of monetary policymaking of the world's largest central banks. Written in celebration of the 350th anniversary of the central bank of Sweden, Sveriges Riksbank. Includes chapters on other banks around the world written by leading economic scholars.