Power or Pure Economics? (Classics in the History and Development of Economics)

This volume examines central questions about the nature of economic theory, its historical development and its explanatory power. What determines economic distribution - can pure economic theory itself explain the fundamentals of distribution or is a broader economics incorporating theories of power in society necessary? The book presents the debate through classic statements of each position from two leading economists of the century, Joseph A. Schumpeter and Yasuma Takata. A substantive introduction from Michio Morishima assesses and places in context the work of both Schumpeter and Takata. This Volume Examines The Central Questions About The Nature Of Economic Theory, Its Historical Development And Its Explanatory Power. What Determines Economic Distribution? Can Pure Economic Theory Itself Explain The Fundamentals Of Distribution Or Is A Broader Economics Incorporating Theories Of Power In Society Necessary? The Book Presents The Debate Through Classic Statements Of Each Position From Two Leading Economists Of The Century, Joseph A. Schumpeter And Yasuma Takata.--book Jacket. Reinventing Security: Japan Since Meiji / Richard J. Samuels Japan In The Coming Century: Looking East Or West? / Ronald Dore Japan's Abiding Sakoku Mentality / Mayumi Itoh The Korean Comfort Women: Movement For Redress / Chunghee Sarah Soh Free Floating Anxieties On The Pacific: Japan And The West Revisited / Laura E. Hein Japan's United Nations Peacekeeping And Other Operations / Takashi Inoguchi Japan's 1991 Minesweeping Decision: An Organizational Response / Peter J. Woolley Pax Nipponica? / Ezra F. Vogel Collaboration Or Conflict? Foreign Aid And U.s. Japan Relations / Robert M. Orr, Jr. Perennial Anxiety: Japan U.s. Controversy Over Recognition Of The Prc, 1952 1958 / Sayuri Shimizu The U.s. Japanese Alliance At Risk / G. Cameron Hurst Iii Japanese American Relations After The Cold War / Ezra F. Vogel Whither Japan U.s. Relations? Partners For The Coming Century / Komori Yoshihisa, Ezra Vogel And Saito Kunihiko. The Japan U.s. Security Arrangements In A New Era / Tanaka Hitoshi. Economic Relations: What Lies Ahead? / Kondo Takeshi, Nogami Yoshiji And Takenaka Heizo. Foresight Needed In Japan U.s. Ties / Okazaki Hisahiko Japan And The Spratlys Dispute: Aspirations And Limitations / Lam Peng Er Japan And Global Environmental Leadership / Rowland T. Maddock The Participation Of Japanese Military Forces In United Nations Peacekeeping Operations / Milton Leitenberg Yeltsin's Visit And The Outlook For Japanese Russian Relations / Hiroshi Kimura Diplomacy And Security In The Twenty First Century / Kosaka Masataka. Joseph A. Schumpeter And Yasuma Takata ; Edited By Michio Morishima ; Translated By Cyprian P. Blamires And Janet Hunter. Includes Bibliographical References (p. 185-187) And Index. Front Matter....Pages i-xxxvii Front Matter....Pages 1-1 Preliminary Remark....Pages 3-5 The Economics and Sociology of Distribution....Pages 6-31 Foundations of the Wage Theory....Pages 32-47 The Social Marginal Product....Pages 48-52 Critical Discussion....Pages 53-60 Peculiarities of the Labour Market....Pages 61-66 The Wage Theorem of Unilateral and Bilateral Monopoly....Pages 67-71 The Problem of the ‘Artificial Rise’ of Wages....Pages 72-86 Front Matter....Pages 87-87 Power and the Economy: The View of an Anti-Schumpeterian....Pages 89-105 Why Can Wages be Rigid? An Alternative Foundation for Keynes’ Premise....Pages 106-118 Why Interest Remains Positive even in Static Equilibrium: Another Anti-Schumpeterian View....Pages 119-151 Disequilibrium in Factor Markets due to Power, with Special Reference to Agricultural Land Rent....Pages 152-160 The Twentieth Century and Secular Disequilibrium in the Economy: A Power-Theoretic View....Pages 161-169 Back Matter....Pages 170-192