As noted above, while the economy was founded on land capital, samurai soldiers as the ruling class have no land ownership, and this peculiar situation made it almost impossible to secure a steady livelihood of samurai in harmony with the national stable growth polity, so that the tight monetary policy lying hard on the economy resulted in chronic recession.
このように、土地資本を基盤とする反面、土地所有者ではない支配者層という独自な立場に立たされた武士の生活の安定と、安定成長政策とは必ずしも上手く融合できずに、金融引き締め的な経済圧迫政策がを打ち出されて不況が慢性化した。