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E-grāmata: Japanese Institutionalist Post-Keynesians Revisited: Inheritance from Marx, Keynes and Institutionalism

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This is the first book that systematically considers the academic achievements of Japanese institutionalist post-Keynesian economists in the postwar period and argues that we can learn much from their intellectual heritage. Those Japanese economists include the world-renowned figures, Shigeto Tsuru and Hirofumi Uzawa, whose inheritance came from Keynes, Marx, and institutionalism.
 In the era of globalization after the 1990s, economic inequality and social divide have intensified all over the world. In this situation, the academic achievements of those economists in postwar Japan should be reconsidered for the aim of establishing a new political economy. With this perspective, the book looks at what we can learn from Japanese institutionalist post-Keynesian economists In particular, the essence of research work that each of them developed is identified, focusing on the total image of the economy for contemporary capitalism.
 Those economists benefited from the diverse legacies of Keynes, Marx, Kalecki and institutionalist economists such as Veblen and Galbraith. When their research is examined systematically, Japanese institutionalist post-Keynesians are commonly characterized as those who developed their institutional analysis of contemporary capitalism with in-depth theoretical and empirical studies, with the aim of establishing their own political economy as the moral science of civil society. These important features provide us with insightful implications for institutional economics in the 21st century.

 

Recenzijas

The book provides a birds-eye view of the intellectual heritages of the JIPKs. The book is reminiscent of the older generation to retrospect what shaped their thoughts, whereas more useful for the younger generation to get new inspiration to advance their studies. I have also been inspired by the economists in this book as a researcher, and I was inspired by them again as a reader. (Hiroshi Nishi, Evolutionary and Institutional Economics Review, Vol. 20 (1), 2023)

1 Introduction: Inheritance from Marx, Keynes, and Institutionalism
1(10)
1.1 Perspective and Aim of the Book
1(1)
1.2 Institutionalism in the Broad Sense
2(3)
1.3 Main Contents of the Book
5(3)
References
8(3)
2 Eiichi Sugimoto's Creative Rivalry in "Modern Economics" and the Present State of Economics
11(10)
2.1 Introduction
11(1)
2.2 Sugimoto's Research Plan and Academic Development by Creative Rivalry
12(3)
2.2.1 Sugimoto's "Modern Economics" in the History of Economic Thought
12(1)
2.2.2 Marshall's Economic Theory with Multi-layered Time and Space
12(1)
2.2.3 Marx, Keynes, and Institutionalism in Sugimoto
13(1)
2.2.4 Sugimoto's Concept of "Creative Rivalry"
14(1)
2.3 The Stagnation of Economic Theory Caused by the Dominance of the Walrasian Paradigm
15(4)
2.3.1 The Theoretically Closed Nature of the Walrasian Paradigm and the Development of Microeconomics
15(1)
2.3.2 The Isolation of Economy from Politics and Society, or Political-Economic Analysis?
16(2)
2.3.3 Theoretical Characteristics of the Walrasian Paradigm
18(1)
2.4 Conclusion
19(1)
References
20(1)
3 Shigeto Tsuru's "Institutionalism in the Broad Sense" and Theories of Contemporary Capitalism Constructed by Yoshihiro Takasuka and Shigenobu Kishimoto
21(20)
3.1 Introduction
21(1)
3.2 Shigeto Tsuru's Study on Contemporary Capitalism with Institutionalism in the Broader Sense
22(6)
3.2.1 Tsuru's Question: "Has Capitalism Changed?"
22(2)
3.2.2 The Political Economy of Environmental Disruption
24(1)
3.2.3 The Political Economy of System Reform
25(1)
3.2.4 Institutional Economics Revisited
26(2)
3.3 Yoshihiro Takasuka's Theory of Contemporary Capitalism: A Structural Analysis of Inflation and Capital Accumulation
28(4)
3.3.1 Takasuka's Prelude to the Theory of the Contemporary Price System and Productivity Differential Inflation
28(3)
3.3.2 Takasuka's Analysis of Stagnation in the 1970s
31(1)
3.4 Shigenobu Kishimoto's The Theory of the Capitalist Economic System and Analyses of the Japanese Economy and Society
32(4)
3.4.1 Kishimoto's The Theory of the Capitalist Economic System as Citizens' Economics
32(3)
3.4.2 Kishimoto Criticized "The 100 Million All in the Middle Class" as an Illusion
35(1)
3.5 Conclusion
36(1)
References
37(4)
4 Yoshikazu Miyazaki and Mitsuharu Itoh: Research on Keynes and Contemporary Capitalism
41(16)
4.1 Introduction
41(1)
4.2 Miyazaki and Itoh on Keynes and Miyazaki's The Historical Development of Modern Economics
42(4)
4.2.1 Comprehensive Understanding of Keynes's Theory in Commentary: Keynes, The General Theory
42(2)
4.2.2 Miyazaki: The Historical Development of Modern Economics
44(2)
4.3 Analyses of Contemporary Capitalism by Miyazaki and Itoh
46(5)
4.3.1 Itoh's Study of Modern Price Theories
47(2)
4.3.2 Itoh's Institutional Analysis of Contemporary Capitalism
49(1)
4.3.3 Miyazaki's Study of Contemporary Capitalism: Company Groups, High Economic Growth, and Multinational Corporations
50(1)
4.4 The Japanese Economy in "the Complex Depression" and "Transnational Civil Society"
51(2)
4.5 Conclusion
53(1)
References
54(3)
5 Hirofumi Uzawa and Tsuneo Ishikawa: Institutionalism, Macroeconomic Analysis, and Social Common Capital
57(16)
5.1 Introduction
58(1)
5.2 Hirofumi Uzawa's Macroeconomic Dynamics and "Social Common Capital"
58(7)
5.2.1 Uzawa's Turning Point, The Re-examination of Modern Economics
59(2)
5.2.2 Uzawa's Theory of Disequilibrium Dynamics
61(1)
5.2.3 The Economic Thought of "Social Common Capital" and Institutionalism
62(2)
5.2.4 Market Imbalance and Social Imbalance: The Macroeconomic Effect of Social Common Capital
64(1)
5.3 Tsuneo Ishikawa's "Economics of Distribution" and Dynamic Analysis of Contemporary Capitalism
65(4)
5.3.1 Basic Types of Dynamics in Contemporary Capitalism
66(2)
5.3.2 Income and Wealth in the Japanese Economy
68(1)
5.3.3 The Dual Labor Market in Japan
68(1)
5.4 Conclusion
69(1)
References
70(3)
6 Social Preference and Civil Society in the Institutional Analysis of Capitalisms: Integrating Samuel Bowles' The Moral Economy and Robert Boyer's Regulation Theory
73(24)
6.1 Introduction
74(1)
6.2 Bowies' The Moral Economy and Civic Social Preference
75(7)
6.2.1 Bowles' Economic Thought: Social Preferences and the Moral Economy
76(1)
6.2.2 The Inseparability of Incentives and Social Preferences Based on Behavioral Sciences
76(2)
6.2.3 Civic Social Preferences in "Liberal Society": "Crowding in" or "Crowding out"
78(2)
6.2.4 The Labor Market Theory Based on Incomplete Contracts
80(1)
6.2.5 The Role of Legislators: Promoting Legislation and Civic Mentality
81(1)
6.3 Boyer's "Civil Society" and Civic Social Democracy
82(6)
6.3.1 Domains of Coordination: Market, Firm, State, Community, and Civil Society
83(2)
6.3.2 Dynamic Interactions between the Economic and Political Domains
85(1)
6.3.3 "Economic Policy Regime" in the Regulation Theory: The Growth Regime and the Compromise of Social Groups
86(1)
6.3.4 Boyer's "Civil Society (societe civile)" and New Social Democracy
87(1)
6.4 Perspectives of "Citizen" and "Civil society" in Bowles and Boyer: How to Integrate their Social Thought
88(4)
6.4.1 Common Perspectives of Bowles and Boyer
89(1)
6.4.2 Different Perspectives between Bowles and Boyer
89(1)
6.4.3 Integrating the Moral Economy and the Regulation Theory
90(2)
6.5 Conclusion
92(1)
References
93(4)
7 Institutional Economics in the Twenty-First Century Based on the Creative Rivalry among Post-Keynesian and Post-Marxian Theories
97
7.1 Introduction
98(1)
7.2 Post-Keynesian Economics and the Regulation Theory in Japan
99(4)
7.2.1 Post-Keynesian Economics in Japan
99(2)
7.2.2 Regulation Approach in Japan
101(2)
7.3 Perspectives for a New Political Economy: Beyond Marx and Keynes
103(6)
7.3.1 The Significance and Insufficiency of Marx: Toward Post-Marxian Political Economy
103(3)
7.3.2 The Significance and Insufficiency of Keynes: Toward Post-Keynesian Political Economy
106(3)
7.4 Methodological Foundations for a New Collaboration of Post-Keynesian, Post-Marxian, and Institutional Economics in the Broad Sense
109(5)
7.4.1 The Analysis of the Interactions between the System and Agents
109(1)
7.4.2 Multi-Layered Regulation in Time and Space Orienting the Evolutionary Course and Cumulative Causation
110(2)
7.4.3 The Analysis of the Dynamic Interaction between the Money and Financial System and Wage-Labor Nexus to Promote Socio-Economic Management and Planning
112(1)
7.4.4 The Institutional Analysis of the Evolving Diversity of Capitalisms from Empirical and Normative Aspects
113(1)
7.5 Theoretical Foundations for the Analysis of Contemporary Capitalism from the Perspective of Institutionalist and Post-Keynesian Economics
114(10)
7.5.1 The Institutional Analysis of the Multi-Layered Coordination Mechanisms of Large Firm Organizations and Industrial Dynamics
115(1)
7.5.2 The Institutional Analysis of the Multi-Layered Coordination Mechanisms of Price-Cost Dynamics and Income-Demand Flow
116(1)
7.5.3 The Institutional Analysis of Multi-Layered Coordination Mechanisms of Wage Determination and Income Distribution
117(3)
7.5.4 Mutual Determination between the Dynamics of the Money and Financial System and the Wage-Labor Nexus in Growth Regimes: The Important Implications of the Regulation Theory
120(2)
7.5.5 The International Production System and the Trade of Intermediate Goods: The Restoration of the Classical Trade Theory of Prices and Incomes
122(2)
7.6 Conclusion: Toward a New Institutional Political Economy in the Twenty-First Century
124(3)
7.6.1 Reconstructing a Creative Rivalry among Various Schools of Economics, Particularly Based on the Intellectual Legacy of Marx, Keynes, and Institutionalism
125(1)
7.6.2 Creating a New Theoretical Framework Based on the Empirical Analysis of the Evolving Diversity of Contemporary Capitalisms
125(1)
7.6.3 Constructing Theoretical Foundations of the Political Economy of Institutions and Evolution
126(1)
References
127
Hiroyasu Uemura is an emeritus professor at Yokohama National University in Japan. He has developed his research in the field of comparative institutional analysis and macroeconomic analysis from the perspective of the régulation theory, i.e. a research program which analyzes how economic institutions evolve in historical processes and defines diverse types of contemporary capitalism. He has also developed the theoretical and empirical analyses based on post-Keynesian theories. He has published many books and articles. These include R. Boyer, H. Uemura and A. Isogai eds. Diversity and Transformations of Asian Capitalisms, Routledge, 2012;  R. Boyer, H. Uemura, T. Yamada and L. Song eds. Evolving Diversity and Interdependence of Capitalisms: Transformations of Regional Integration in EU and Asia, Springer, 2018.