This book covers the development of economics in Japan from the inter-war period to the 2000s focusing on the international theoretical contributions of Japanese economists. The first focal point is the international contributions of Japanese economists before and after World War II. The second focal point is the controversies concerning macroeconomic policies in Japan in the period of the ‘Great Depressions’ in the 1930s and the period of Japanese ‘Great Stagnation’ in the 1990s and the early 2000s.
In short, economics in Japan is considered from both a theoretical and a policy-oriented point of view. The intimate relationship between economic theory, thought and policy is also fully examined, as well as the development of both academic and non-academic (practical) Japanese economics and the influence of Marx, Walras, Keynes, Fisher and Cassell.
General Introduction Toichiro Asada Part I. From the Interwar Period to the 1970s 1. The Lost Thirteen Years : The Return to the Gold Standard Controversy in Japan, 1919 – 1932 Masazumi Wakatabe 2. Prof. Aoyama’s Study on Robertson and Keynes in the Interwar Japan in Comparison with My Interpretation : "With or Without" Dynamic General Equilibrium Theory(DGFT) Toshiaki Hirai 3. Japanese Contributions to Dynamic Economic Theories from the 1940s to the 1970s : A Historical Survey Toichiro Asada Part II. Economics of the Lost Twenty Years in Japan from the 1990s to the 2000s 4. Controversies Regarding Monetary Policy and Deflation in Japan from the 1990s to the early 2000s Asahi Noguchi 5. Is There Any Cultural Difference in Economics? : Keynesianism and Monetarism in Japan Masazumi Wakatabe 6. Macrodynamics of Deflationary Depression : A Japanese Perspective Toichiro Asada