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The Contributions of Two Eminent Japanese Scholars on the Development of Economic Theories: Michio Morishima and Takashi Negishi

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  • Kurz, Heinz D.

Abstract

There can be no doubt that Michio Morishima and Takashi Negishi are two of the most important historians of economic thought of the recent past. Both authors contributed numerous papers and books to the subject, dealing with the works of major economists from the very inception of systematic economic thought at the time of the classical economists up until modern times. And both authors combined a vivid interest in modern economic theory with an interest in what past masters had to say. The paper assesses and compares the motivations of the two authors to engage in the history of economic theories, their similar, but different approaches to do historical research, and their achievements in this regard. Given the remarkable amount of work each one of them accomplished, the paper has to focus attention on a subset of the themes the two authors dealt with. The emphasis will be on (i) their treatment of the classical theories of value, distribution and capital accumulation, especially those of Adam Smith and David Ricardo, (ii) their discussion of the contributions of Karl Marx and some Marxists, (iii) their interpretation of some early and mature marginalist economists, especially Léon Walras, Eugen von Böhm-Bawerk and Knut Wicksell, and (iv) their views about the achievements of John Maynard Keynes. Given the intrinsic complexity of each of these themes, it goes without saying that the paper is bound to proceed largely in terms of synthetic statements.

Suggested Citation

  • Kurz, Heinz D., 2010. "The Contributions of Two Eminent Japanese Scholars on the Development of Economic Theories: Michio Morishima and Takashi Negishi," MPRA Paper 20430, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:20430
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    File URL: https://mpra.ub.uni-muenchen.de/20430/1/MPRA_paper_20430.pdf
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    References listed on IDEAS

    as
    1. Heinz Kurz, 2006. "Whither the history of economic thought? Going nowhere rather slowly?," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 13(4), pages 463-488.
    2. Morishima,Michio, 1992. "Capital and Credit," Cambridge Books, Cambridge University Press, number 9780521418409.
    3. Heinz D. Kurz, 2000. "Wicksell and the Problem of the "Missing" Equation," History of Political Economy, Duke University Press, vol. 32(4), pages 765-788, Winter.
    4. Hicks, J. R., 1979. "Critical Essays in Monetary Theory," OUP Catalogue, Oxford University Press, number 9780198284239.
    5. Kurz,Heinz D. & Salvadori,Neri, 1997. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521588676.
    6. TAKASHI Negishi, 1996. "Japanese Studies Of Ricardo'S Theory Of Foreign Trade," The Japanese Economic Review, Japanese Economic Association, vol. 47(4), pages 335-345, December.
    7. N. De Liso & G. Filatrella, 1999. "On technology competition," Working Papers 337, Dipartimento Scienze Economiche, Universita' di Bologna.
    8. Hahn, Frank, 1982. "The Neo-Ricardians," Cambridge Journal of Economics, Oxford University Press, vol. 6(4), pages 353-374, December.
    9. Heinz D. Kurz & Neri Salvadori, 2002. "One Theory or Two? Walras's Critique of Ricardo," History of Political Economy, Duke University Press, vol. 34(2), pages 365-398, Summer.
    10. J. v. Neumann, 1945. "A Model of General Economic Equilibrium," Review of Economic Studies, Oxford University Press, vol. 13(1), pages 1-9.
    11. Negishi,Takashi, 1985. "Economic Theories in a Non-Walrasian Tradition," Cambridge Books, Cambridge University Press, number 9780521259675.
    12. Kurz, Heinz D., 2008. "Innovations and profits: Schumpeter and the classical heritage," Journal of Economic Behavior & Organization, Elsevier, vol. 67(1), pages 263-278, July.
    13. Steedman, Ian, 1975. "Positive Profits with Negative Surplus Value," Economic Journal, Royal Economic Society, vol. 85(337), pages 114-123, March.
    14. Takashi Negishi, 1982. "Wicksell's Missing Equation: A Comment," History of Political Economy, Duke University Press, vol. 14(3), pages 310-311, Fall.
    15. Kurz, Heinz D & Salvadori, Neri, 1992. "Morishima on Ricardo: Review Article," Cambridge Journal of Economics, Oxford University Press, vol. 16(2), pages 227-247, June.
    16. Negishi, Takashi, 1990. "Ricardo and Morishima on Machinery," Journal of the History of Economic Thought, Cambridge University Press, vol. 12(02), pages 146-161, September.
    17. Christian Gehrke & Heinz D. Kurz, 2006. "Sraffa on von Bortkiewicz: Reconstructing the Classical Theory of Value and Distribution," History of Political Economy, Duke University Press, vol. 38(1), pages 91-149, Spring.
    18. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Keywords

    Negishi; Takashi; Morishima; Michio; general equilibrium; Marxist economics; trade; growth;

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • B16 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Quantitative and Mathematical

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