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Whiter Global Capitalism: Marxian Economics in Japan Whiter Global Capitalism: Marxian Economics in Japan

Whiter Global Capitalism: Marxian Economics in Japan - PowerPoint Presentation

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Whiter Global Capitalism: Marxian Economics in Japan - PPT Presentation

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

capitalism japan crisis economics japan capitalism economics crisis society economy economic liberalism japanese heterodox neo political english labour kozo

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Slide1

Whiter Global Capitalism: Marxian Economics in Japan

Nobuharu Yokokawa

Musashi University

Slide2

Heterodox 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

Slide3

Kozo

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

Slide4

Heterodox Economics

The French Regulation

school

The Keynesian models

Institutionalist

and historical

schools

Slide5

The 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.

Slide6

Structural 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.

Slide7

Systemic 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.