Word: prewar
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...postwar U.S. breakup of Japan's zaibatsu, the huge and powerful prewar cartels that controlled practically all of Japanese industry, was the most ambitious antitrust action in history. The reemergence of the zaibatsu has been hardly less ambitious. With scarcely a murmur to mark it, the steady reconcentration of the three biggest zaibatsu -Mitsui, Mitsubishi and Sumitomo-has been going on quietly but steadily since 1952. The three now account for more than one-third of Japan's total industrial and commercial business-and they are not finished yet. Last week executives from three big prewar Mitsubishi heavy...
...occupation, Rotterdam's businessmen met secretly and laid plans for the harbor's postwar expansion. At war's end, they invested all available money in the port, purposely leaving the main district a bombed-out, barren plain for five years. Rotterdam built steadily, has increased its prewar business...
Like chewing gum, rock 'n' roll and girls in slacks, people's capitalism was unthinkable in prewar Japan. Today, an estimated 6,000,000 Japanese-many of them housewives, factory workers and shopkeepers-own stocks. An average trading day on the Tokyo Exchange sees no fewer than 100 million shares of stock change hands. The trail blazer in this phenomenal growth of stock ownership is a jovial, pipe-chewing kabuya (securities broker) named Tsunao Okumura, who has fought public apathy, occupation forces, and the power of Kabutocho, Japan's Wall Street, to educate the Japanese public...
Tokyo's Kabutocho, accustomed to the prewar idea of stocks held closely by the Zaibatsu financial combines, at first scoffed at Okumura, and occupation forces took a dim view of his plan to set up investment trusts that would operate somewhat like U.S. mutual funds. But Japan's amazing postwar resurgence proved fertile ground for Okumura's ideas. "I am the world's most stubborn man," says Okumura, "when I decide that I want something and meet opposition." Many Japanese companies now prefer to sell shares to raise money rather than to ask the once...
What's Become of Waring, by Anthony Powell. First U.S. publication of an early comic novel laid in prewar literary London, which demonstrates that even as a young man Powell had the amused, detached eye and the gift for mimicry so impressively evident in his later, major enterprise, The Music of Time...