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. (shrink)
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. (shrink)
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 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. (shrink)
This book brings together in a single coherent framework a research programme begun by the author in the forties. The main model around which the analysis is built is Hicksian in character, having been drawn in large part from John Hicks's Value and Capital. The model is extended so as to include money and securities. In respect of the theory of the firm the model focuses on demand and supply plans, on inputs and outputs, on inventories, and on dependencies between (...) them. The stability of temporary equilibrium is discussed for linear and non-linear cases. Because the concept of structural stability is important for understanding non-linear cases, it is defined and applied to the case of economic motion generated from the temporary equilibrium analysis. The addenda focus on developments in economic theory following the publication of the main model. (shrink)
SummaryOn 11th March 2011 a magnitude nine earthquake struck the Tohoku region of Japan. The earthquake resulted in a large tsunami and an accident at the Fukushima Nuclear Power Plant. Previous studies have suggested that demographic indices relating to reproduction and marriage change after such massive disasters. The present study investigated whether the number of births, number of marriages and the secondary sex ratio changed after the East Japan Earthquake. The monthly number of births and marriages in each prefecture in (...) Japan from January 1997 to June 2012 were obtained from the Demographic Survey of Japan. An analysis was performed for three different geographic boundary units: the disaster-stricken area, the non-disaster-stricken area and the whole of Japan. In each unit, the numbers of births and marriages in a given month during the post-disaster period were predicted based on a regression equation estimated by the numbers of births and marriages in that month during the pre-disaster period. The numbers of observed monthly births and marriages during the post-disaster period were compared with the predicted figures. Differences between the observed and predicted numbers were determined by referring to the 95% confidence limits for the predicted mean number. The observed probability of a male birth in a given month during the post-disaster period was compared with a 95% confidence interval of a binominal distribution. In all three boundary units, the number of births was significantly lower than the predicted number by about 3–8% from nine months after the disaster, while the number of marriages in October 2011 was significantly lower than the predicted number by about 25–28%. In October 2011, the SSR in the whole of Japan had decreased from 104.8 to 102.9. The number of births and marriages and the SSR decreased in Japan after the East Japan Earthquake irrespective of locality. (shrink)
Nineteen obituaries of recently deceased Fellows of the British Academy: W S Allen; George Anderson; A C de la Mare; John Flemming; James Harris; John Hurst; Casimir Lewy; Donald MacDougall; Colin Matthew; Edward Miller; Michio Morishima; Brian Reddaway; Marjorie Reeves; C Martin Robertson; Conrad Russell, and Arnold Taylor.
Nineteen obituaries of recently deceased Fellows of the British Academy: W S Allen; George Anderson; A C de la Mare; John Flemming; James Harris; John Hurst; Casimir Lewy; Donald MacDougall; Colin Matthew; Edward Miller; Michio Morishima; Brian Reddaway; Marjorie Reeves; C Martin Robertson; Conrad Russell and Arnold Taylor.
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