When Professor Morishima's book Why has Japan 'Succeeded'? (1982) was published, Japan was still a country of 'capitalism from above'. For the past ten years the country's economy has faltered and declined. It is turning towards 'capitalism from below' despite Japan's weak democracy. This directional change is investigated through a variety of standpoints, using an in-depth knowledge of the Japanese ethos, national history, educational background, as well as the sociology of the Japanese economy and business world. The author offers a long-term forecast for the future of Japan.
When Professor Morishima's book Why has Japan 'Succeeded'? (1982) was published, Japan was still a country of 'capitalism from above'. For the past ten years the country's economy has faltered and declined. It is turning towards 'capitalism from below' despite Japan's weak democracy. This directional change is investigated through a variety of standpoints, using an in-depth knowledge of the Japanese ethos, national history, educational background, as well as the sociology of the Japanese economy and business world. The author offers a long-term forecast for the future of Japan.
This book, by a distinguished Japanese economist now resident in the West, offers a new interpretation of the current success of the Japanese economy. By placing the rise of Japan in the context of its historical development, Michio Morishima shows how a strongly-held national ethos has interacted with religious, social and technological ideas imported from elsewhere to produce highly distinctive cultural traits. While Professor Morishima traces the roots of modern Japan back as far as the introduction of Confucianism, Taoism and Buddhism from China in the sixth century, he concentrates his observations on the last 120 years during which Japan has had extensive contacts with the West. He describes the swift rise of Japan to the status of a first-rate power following the Meiji Revolution after 1867, in which Japan broke with a long history of isolationism, and which paved the way for the adoption of Western technology and the creation of a modern Western-style nation state; and a similarly meteoric rise from the devastation of the Second World War to Japan's present position. A range of factors in Japan's economic success are analysed: her characteristic dualistic social structure - corresponding to the divide between large and medium/small enterprises - the relations of government and big business, the poor reception of liberalism and individualism, and the strength of the Japanese nationalism. Throughout, Professor Morishima emphasises the importance of the role played in the creation of Japanese capitalism by ethical doctrines as transformed under Japanese conditions, especially the Japanese Confucian tradition of complete loyalty to the firm and to the state. This account, which makes clear the extent to which the economic rise of Japan is due to factors unique to its historical traditions, will be of interest to a wide general readership as well as to students of Japan and its history.
This book, together with Marx's Economic and Walras' Economics, completes a sequence of titles by Professor Morishima on the first generation of scientific economists. The author's assessment of Ricardo differs substantially from the established views adopted by economists and historians of economic thought. While economists such as Pasinetti, Caravale and Samuelson have concentrated on macroeconomic interpretations of Ricardo, and historians of economic thought have emphasised his labour theory of value, Morishima takes a different course. In this book the author concentrates on Ricardo's main work, The Principles, and shows that his economics is the prototype of mathematical economies without the symbols and formulae. Morishima then translates Ricardo's economics into mathematical language to find a general equilibrium system (very similar to Walras') concealed within. The analysis also contradicts the conventional view that marginalism emerged in opposition to classical economics, showing instead that Ricardian analysis is firmly based on marginalist principles, using prices, wages and profits rather than labour values. The book ends with a discussion of the historical character of economic theory and an attempt to specify the epoch of Ricardian economics.
Originally published in 1977, this book is a companion to Professor Morishima's book Marx's Economics which was published in 1973. As he did so successfully with Marx, Morishima intended with this book to change the standard assessment of his subject's contribution to the development of economic thought. The standard view was that Walras provided, in the second half of the nineteenth century, the basis for general equilibrium theory. He was thus regarded as a microeconomist, a founder of marginalism; but Morishima argues that, while Walras certainly made important contributions in that area, it is his attempt to build a macroeconomics on that foundation that should be regarded as his main achievement. This book will provoke great interest amongst all economists and advanced students of economic theory and its history.
Offers new ways of understanding the economic problems of industrialized countries, providing an effective critique of current economic theories and developing an original model of the economics (neoclassical, Marxist, Keynesian) of modern industrial society.
This book, together with Marx's Economic and Walras' Economics, completes a sequence of titles by Professor Morishima on the first generation of scientific economists. The author's assessment of Ricardo differs substantially from the established views adopted by economists and historians of economic thought. While economists such as Pasinetti, Caravale and Samuelson have concentrated on macroeconomic interpretations of Ricardo, and historians of economic thought have emphasised his labour theory of value, Morishima takes a different course. In this book the author concentrates on Ricardo's main work, The Principles, and shows that his economics is the prototype of mathematical economies without the symbols and formulae. Morishima then translates Ricardo's economics into mathematical language to find a general equilibrium system (very similar to Walras') concealed within. The analysis also contradicts the conventional view that marginalism emerged in opposition to classical economics, showing instead that Ricardian analysis is firmly based on marginalist principles, using prices, wages and profits rather than labour values. The book ends with a discussion of the historical character of economic theory and an attempt to specify the epoch of Ricardian economics.
Knowledge-Driven Work is a pioneering study of the cross-cultural iffusion of ideas about the organization of work. These ideas, linked with the knowledge of the workforce, are rapidly becoming the primary source of competitive advantage in the world economy. The book provides an in-depth look at eight Japanese-affiliated manufacturing facilities operating in the United States, combined with examinations of their sister facilities in Japan. The authors offer their insights into the complex process by which elements of work systems in one country interact with those in another. They trace the flow of ideas from Japan to the US and other nations, and the beginnings of a reverse diffusion of innovation back to Japan. The authors organize their findings into six categories: the cross-cultural diffusion of work practices, team-based work systems, kaizen and employee involvement, employment security, human resource management, and labor-management relations. Their study of team-based work systems yields a taxonomy of teams and reveals some conflicts between the desire for self-management and the existence of interdependencies. Investigations into kaizen (ongoing incremental improvement) indicate that its emphasis on employee-driven, systematic problem solving makes it a strong counterpoint to the idea of top-down "re-engineering." Looking at employment security, the authors note that while most US managers believe that it restrains managerial flexibility, managers at the firms they observed see it as essential to the flexibility associated with teamwork and kaizen. The study of human resource management practices suggests competitive advantages in diverse, older, unionized, and urban work forces, and emphasizes the importance of wide-ranging training programs in a work system premised on a long-term perspective. The "wildcard" in the work places observed is labor-management relations, the area in which Japanese managers have been least likely to import their ideas. The authors report on several situations in which existing labor-management structures remained untouched, with mixed results: greater labor-management consultation, for example, but also increased ambiguity of roles. The thread running through all of these areas of work is "virtual knowledge," an ephemeral form of knowledge derived from a particular combination of people focused on a given issue. The authors point out that this powerful form of knowledge is only effectively harnessed in environments that are free of fear, that have established procedures for collective problem-solving, and that have some stability in group composition. They claim that too often companies allow virtual knowledge to dissipate, squandering opportunities to create more competitive workplaces. For those organizations that have succeeded in anticipating and channeling it, however, virtual knowledge leads to a knowledge-driven workplace and continuous improvement.
Originally published in 1977, this book is a companion to Professor Morishima's book Marx's Economics which was published in 1973. As he did so successfully with Marx, Morishima intended with this book to change the standard assessment of his subject's contribution to the development of economic thought. The standard view was that Walras provided, in the second half of the nineteenth century, the basis for general equilibrium theory. He was thus regarded as a microeconomist, a founder of marginalism; but Morishima argues that, while Walras certainly made important contributions in that area, it is his attempt to build a macroeconomics on that foundation that should be regarded as his main achievement. This book will provoke great interest amongst all economists and advanced students of economic theory and its history.
Contemporary general equilibrium theory is characteristically short-run, separated from monetary aspects of the economy, and as such does not deal with long-run problems such as capital accumulation, innovation, and the historical movement of the economy. These phenomena are discussed by growth theory, which assumes a given or shifting production function, and in turn cannot therefore deal with the fundamental problem of growth, namely how the production function is derived. Thus traditional theories have a common weakness in that they divorce real economic growth from the activities of the financial sector. This book provides a much-needed synthesis of growth theory and monetary theory. Professor Morishima draws on the work of Schumpeter, Keynes and the pre-war neoclassical economists to formulate a capital-theoretic general equilibrium theory.
This book, by a distinguished Japanese economist now resident in the West, offers a new interpretation of the current success of the Japanese economy. By placing the rise of Japan in the context of its historical development, Michio Morishima shows how a strongly-held national ethos has interacted with religious, social and technological ideas imported from elsewhere to produce highly distinctive cultural traits. While Professor Morishima traces the roots of modern Japan back as far as the introduction of Confucianism, Taoism and Buddhism from China in the sixth century, he concentrates his observations on the last 120 years during which Japan has had extensive contacts with the West. He describes the swift rise of Japan to the status of a first-rate power following the Meiji Revolution after 1867, in which Japan broke with a long history of isolationism, and which paved the way for the adoption of Western technology and the creation of a modern Western-style nation state; and a similarly meteoric rise from the devastation of the Second World War to Japan's present position. A range of factors in Japan's economic success are analysed: her characteristic dualistic social structure - corresponding to the divide between large and medium/small enterprises - the relations of government and big business, the poor reception of liberalism and individualism, and the strength of the Japanese nationalism. Throughout, Professor Morishima emphasises the importance of the role played in the creation of Japanese capitalism by ethical doctrines as transformed under Japanese conditions, especially the Japanese Confucian tradition of complete loyalty to the firm and to the state. This account, which makes clear the extent to which the economic rise of Japan is due to factors unique to its historical traditions, will be of interest to a wide general readership as well as to students of Japan and its history.
Offers new ways of understanding the economic problems of industrialized countries, providing an effective critique of current economic theories and developing an original model of the economics (neoclassical, Marxist, Keynesian) of modern industrial society.
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