User:Cmouelle/sandbox

Economic contributions
Though Sorai was best known for being a teacher of Confucianism he was also called on to find answers to some of the economic issues that arose alongside the growing economy, the most notable of which was the rising inflation and prices that began after the debasement of coinage in 1695. The Tokugawa shogun carried out a total of 12 recoinages between 1695 and the start of the Meiji Restoration in 1868 in an attempt to match the rising demand for money as the commercial economy rapidly expanded. There was an attempt to quell the inflation and high prices in 1714 when they reminted coins in an effort to reduce the amount of gold in circulation, however this exacerbated the problem as the old coins remained in circulation alongside the newly minted coins. In response to the currency reforms Sorai noted that the monetary policies enacted failed as they only accounted for one of the causes of high prices and inflation. He realized that there were more than just monetary influences that needed to be taken into account to address the problem. Sorai noted that since the large cities like Edo had become the center of large markets one had to consider the costs of tariffs and transportation from distant provinces as well as the costs of land and housing in the cities into final prices. Additionally, there was a breakdown of the traditional class distinctions where commoners were able to buy goods that were once reserved for the higher classes which pushed up prices. Finally, he pointed out that as the merchant class grew in power they began to collude and fix prices above what was normal. It was all of these factors together, in addition to the monetary influences, that caused wealth and power to shift away from the shogun and into the hands of the merchants which prompted the debasement of coinage leading to inflation and exorbitant prices.