In 1730, Japanese merchants turned Shogun Tokugawa Yoshimune to officially allow futures trading in Fig Dojima Exchange, the world's first organized (but unauthorized) of the futures market. For many years, the Japanese government banned futures trading account, because it has been widely regarded as a form of gambling, which has caused the price of rice growing. However, when the price of rice fell to a record low in the late 1720s, a samurai (whose income is tied to the price of rice) saw a drop in their economic position in relation to the merchant class, whose growing economic power elite of the country concerned. Shogun responded to the easing of restrictions on trade in futures, but without official sanction in the futures market Dojima. Now the question is whether he should heed the request of merchants and make the next step. "Hide
by David Moss, Eugene Kintgen Source: Harvard Business School 21 pages. Publication Date: January 30, 2009. Prod. #: 709044-PDF-ENG
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