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Cake day: July 16th, 2023

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  • From the entry for “zaibatsu” on Wikipedia:

    Under the Allied occupation after the surrender of Japan, a partially successful attempt was made to dissolve the zaibatsu. Many of the economic advisors accompanying the SCAP administration had experience with the New Deal and were highly suspicious of monopolies and restrictive business practices, which they felt to be both inefficient, and to be a form of corporatocracy (and thus inherently anti-democratic).

    The only difference? The zaibatsu actually diversified their operations.