Nobuharu Yokokawa Musashi University Heterodox Economics Organizations Japan Society of political Economy Political Economy amp Economic History Society Japan Association for Evolutionary Economics ID: 782476
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Slide1
Whiter Global Capitalism: Marxian Economics in Japan
Nobuharu Yokokawa
Musashi University
Slide2Heterodox Economics Organizations
Japan
Society of political Economy
Political Economy & Economic History Society
Japan Association for Evolutionary Economics
The Japanese Society for the History of Economic Thought
The Japan Society of International Economics
Main stream: Japanese Economic Association
Slide3Kozo
Uno’s three
levels of analysis:
The general theory of capitalism; The stages of capitalist developments; Detailed studies of particular countries and time-periods.
Kozo Uno’ three level analysis
Slide4Heterodox Economics
The French Regulation
school
The Keynesian models
Institutionalist
and historical
schools
Slide5The Japan Society of Political Economy
(1) The
largest organization of heterodox economists in Japan since its founding in
1959(2) The JSPE began inviting non-Japanese economists since 2001.
(3) The
first English publication of collected papers from the annual meetings,
The
Crisis of 2008 and the Future of Capitalism
.
(4) We
plan to publish a volume of collected papers
each
year and
to publish Newsletters
in English.
Slide6Structural changes in Bureaucratic Capitalism after World War II
(1) The
cyclical crises in the golden age
solved the conflict between capital and labour over the distribution of value added per unit of labour and reinforced the self-regulating nature of capitalism.
(2) The
structural crisis in the 1970s destroyed the accumulation regime of the golden age and created that of
neo-liberalism.
(3) The
subprime loan crisis was a systemic crisis that would destroy the present capitalist world system.
Slide7Systemic Crisis and Evolution of capitalism
(1) Britain
in the end of 19
century left the investment strategy to market.
Ricardian
liberalism was partially responsible.
(2) The
USA
in
the
1970s
took the same strategy, choosing neo-liberalism and kicked away followers’ protectionist ITT policies.
(3)The USA
after
2007
Full
development of IT
industries
requires solving demand constraints by rebuilding the link between productivity growth and wages and keeping most advanced knowledge within the country by controlling transnational corporations.
The
neo-liberal ideology makes these policies impossible.