was a Japanese
heterodox economist
Heterodox economics is any economic thought or theory that contrasts with orthodox schools of economic thought, or that may be beyond neoclassical economics.Frederic S. Lee, 2008. "heterodox economics," ''The New Palgrave Dictionary of Economics' ...
and
public intellectual
An intellectual is a person who engages in critical thinking, research, and reflection about the reality of society, and who proposes solutions for the normative problems of society. Coming from the world of culture, either as a creator or a ...
who was the Sir John Hicks Professor of Economics at the
London School of Economics
, mottoeng = To understand the causes of things
, established =
, type = Public research university
, endowment = £240.8 million (2021)
, budget = £391.1 millio ...
from 1970–88. He was also professor at
Osaka University
, abbreviated as , is a public research university located in Osaka Prefecture, Japan. It is one of Japan's former Imperial Universities and a Designated National University listed as a "Top Type" university in the Top Global University Project. ...
and member of the
British Academy
The British Academy is the United Kingdom's national academy for the humanities and the social sciences.
It was established in 1902 and received its royal charter in the same year. It is now a fellowship of more than 1,000 leading scholars span ...
. In 1976 he won the Order of Culture (文化勲章, Bunka-kunshō).
Career
Originally desiring a career as a
historical novelist
This page provides a list of novelists who have written historical novels. Countries named are where they ''worked'' for longer periods. Alternative names appear before the dates.
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, at the university Morishima pursued
social science
Social science is one of the branches of science, devoted to the study of societies and the relationships among individuals within those societies. The term was formerly used to refer to the field of sociology, the original "science of soc ...
, studying both
economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services.
Economics focuses on the behaviour and intera ...
and
sociology
Sociology is a social science that focuses on society, human social behavior, patterns of Interpersonal ties, social relationships, social interaction, and aspects of culture associated with everyday life. It uses various methods of Empirical ...
under
Yasuma Takada. At
Kyoto University
, mottoeng = Freedom of academic culture
, established =
, type = National university, Public (National)
, endowment = ¥ 316 billion (2.4 1000000000 (number), billion USD)
, faculty = 3,480 (Teaching Staff)
, administrative_staff ...
, Morishima was rigorously trained in both mainstream
neoclassical economic theory and
Marxian economics
Marxian economics, or the Marxian school of economics, is a Heterodox economics, heterodox school of political economic thought. Its foundations can be traced back to Karl Marx, Karl Marx's Critique of political economy#Marx's critique of politic ...
. Mathematically gifted, in 1946, he graduated from Kyoto University and taught there in addition to
Osaka University
, abbreviated as , is a public research university located in Osaka Prefecture, Japan. It is one of Japan's former Imperial Universities and a Designated National University listed as a "Top Type" university in the Top Global University Project. ...
. He starte
Institute of Social and Economic Research(ISER) of Osaka University with
Yasuma Takada.
In 1960 he established with Nobel-laureate
Lawrence R. Klein from the
Economics Department of the
University of Pennsylvania
The University of Pennsylvania (also known as Penn or UPenn) is a private research university in Philadelphia. It is the fourth-oldest institution of higher education in the United States and is ranked among the highest-regarded universitie ...
the
International Economic Review
The ''International Economic Review'', (IER) is a quarterly peer-reviewed scientific journal in economics published by the Economics Department of the University of Pennsylvania and Osaka University. The journal's focus is wide and includes many a ...
(today published by Penn), which grew to become one of the leading journals in economics in the world.
In 1965, he became the first Japanese president of the
Econometric Society
The Econometric Society is an international society of academic economists interested in applying statistical tools to their field. It is an independent organization with no connections to societies of professional mathematicians or statisticians. ...
. By all accounts,
John Hicks
Sir John Richards Hicks (8 April 1904 – 20 May 1989) was a British economist. He is considered one of the most important and influential economists of the twentieth century. The most familiar of his many contributions in the field of economic ...
was a committed advocate of Morishima's careership in England.
In 1968, he immigrated to
Britain
Britain most often refers to:
* The United Kingdom, a sovereign state in Europe comprising the island of Great Britain, the north-eastern part of the island of Ireland and many smaller islands
* Great Britain, the largest island in the United King ...
, teaching at
University of Essex
The University of Essex is a public university, public research university in Essex, England. Established by royal charter in 1965, Essex is one of the original plate glass university, plate glass universities. Essex's shield consists of the an ...
, then accepting an endowed chair at the LSE in 1970.
Later, he started the project that led to the establishment of the
Suntory
(commonly referred to as simply Suntory) is a Japanese multinational brewing and distilling company group. Established in 1899, it is one of the oldest companies in the distribution of alcoholic beverages in Japan, and makes Japanese whisky. Its ...
-
Toyota
is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...
Foundation and the Suntory and Toyota International Centres for Economic and Related Disciplines
STICERD at LSE. He was STICERD's first chairman. In 1991 he was elected Honorary Fellow of the LSE.
[Refer t]
LSE HP
/ref>
Contributions
Morishima's three-volume work reinterpreting and synthesizing economic ideas in the major writings of David Ricardo
David Ricardo (18 April 1772 – 11 September 1823) was a British Political economy, political economist. He was one of the most influential of the Classical economics, classical economists along with Thomas Robert Malthus, Thomas Malthus, Ad ...
, Karl Marx
Karl Heinrich Marx (; 5 May 1818 – 14 March 1883) was a German philosopher, economist, historian, sociologist, political theorist, journalist, critic of political economy, and socialist revolutionary. His best-known titles are the 1848 ...
, and Léon Walras
Marie-Esprit-Léon Walras (; 16 December 1834 – 5 January 1910) was a French mathematical economist and Georgist. He formulated the marginal theory of value (independently of William Stanley Jevons and Carl Menger) and pioneered the developmen ...
, now largely forgotten, represents one of the high points of the radical political economy of the 1970s New Left
The New Left was a broad political movement mainly in the 1960s and 1970s consisting of activists in the Western world who campaigned for a broad range of social issues such as civil and political rights, environmentalism, feminism, gay rights, g ...
in North America. His intense interest in general equilibrium theory
In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an ov ...
, classical political economy
Classical economics, classical political economy, or Smithian economics is a school of thought in political economy that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century. Its main thinkers are held to be Adam Smit ...
, and capitalism
Capitalism is an economic system based on the private ownership of the means of production and their operation for Profit (economics), profit. Central characteristics of capitalism include capital accumulation, competitive markets, pric ...
drove this work. Based on LSE lectures, these books worked towards the accommodation of von Neumann Von Neumann may refer to:
* John von Neumann (1903–1957), a Hungarian American mathematician
* Von Neumann family
* Von Neumann (surname), a German surname
* Von Neumann (crater), a lunar impact crater
See also
* Von Neumann algebra
* Von Ne ...
's 1937 multi-sectoral growth model to a general equilibrium model. Considering the work of these theorists to be Ricardian, his three books worked to show that the modification of them along von Neumann lines elucidates the theoretical similarities and differences between the positions.
Academic positions
* 1948 – Assistant at Kyoto University
, mottoeng = Freedom of academic culture
, established =
, type = National university, Public (National)
, endowment = ¥ 316 billion (2.4 1000000000 (number), billion USD)
, faculty = 3,480 (Teaching Staff)
, administrative_staff ...
* 1950 – Lecturer at Kyoto University
* 1950 – Assistant professor at Kyoto University
* 1951 – Associate professor at Osaka University
, abbreviated as , is a public research university located in Osaka Prefecture, Japan. It is one of Japan's former Imperial Universities and a Designated National University listed as a "Top Type" university in the Top Global University Project. ...
* 1963 – Professor of Economics at Osaka University
* 1966 – Professor o
ISER
(Institute of Social and Economic *Research) at Osaka University
* 1968 – Visiting professor at University of Essex
The University of Essex is a public university, public research university in Essex, England. Established by royal charter in 1965, Essex is one of the original plate glass university, plate glass universities. Essex's shield consists of the an ...
* 1969 – Keynes visiting professor at University of Essex
* 1970 – Professor at London School of Economics
, mottoeng = To understand the causes of things
, established =
, type = Public research university
, endowment = £240.8 million (2021)
, budget = £391.1 millio ...
* 1982 – Sir John Hicks
Sir John Richards Hicks (8 April 1904 – 20 May 1989) was a British economist. He is considered one of the most important and influential economists of the twentieth century. The most familiar of his many contributions in the field of economic ...
professor at London School of Economics
Publications
* Morishima, Michio (1952), "On the Laws of Change of the Price System in an Economy which Contains Complementary Goods", ''Osaka EP''.
* Morishima, Michio (1952), "Consumer Behavior and Liquidity Preference", ''Econometrica''.
* Morishima, Michio (1956), "An Analysis of the Capitalist Process of Reproduction", ''Metroeconomica''.
* Morishima, Michio (1957), "Notes on the Theory of Stability of Multiple Exchange", ''RES''.
* Morishima, Michio (1958), "A Contribution to the Non-Linear Theory of the Trade Cycle", ''ZfN''.
* Morishima, Michio (1958), "A Dynamic Analysis of Structural Change in a Leontief Model", ''Economica''.
* Morishima, Michio (1958), "Prices Interest and Profits in a Dynamic Leontief System", ''Econometrica''.
* Morishima, Michio (1959), "Some Properties of a Dynamic Leontief System with a Spectrum of Techniques", ''Econometrica''.
* Morishima, Michio (1960), "Existence of Solution to the Walrasian System of Capital Formation and Credit", ''ZfN''.
* Morishima, Michio (1960), "On the Three Hicksian Laws of Comparative Statics", ''RES''.
*
* Morishima, Michio (1960), "Economic Expansion and the Interest Rate in Generalized von Neumann Models", ''Econometrica''.
* Morishima, Michio (1961), "Proof of a Turnpike Theorem: The `No Joint Production' Case", ''RES''.
*
* Morishima, Michio (1961), "Generalizations of the Frobenius-Wielandt Theorems for Non- Negative Square Matrices", ''J of London Mathematical Society''.
* Morishima, Michio (1962), "The Stability of Exchange Equilibrium: An alternative approach", ''IER''.
* Morishima, Michio (1964), ''Equilibrium, Stability and Growth: A multi-sectoral analysis''.
* Morishima, Michio (1966), "A Refutation of the Non-Switching Theorem", ''QJE''.
* Morishima, Michio (1967), "A Few Suggestions on the Theory of Elasticity", ''Keizai Hyoron''
* Morishima, Michio (1969), ''Theory of Economic Growth''.
* Morishima, Michio (1970), "A Generalization of the Gross Substitute System", ''RES''.
* Morishima, Michio (1971), "Consumption-Investment Frontier, Wage-Profit Frontier and the von Neumann Growth Equilibrium", ''ZfN''.
* Morishima, Michio (1972), ''The Working of Econometric Models'', (in collaboration with Y. Murata, T. Nosse and M. Saito).
* Morishima, Michio (1973), ''Marx's Economics: A dual theory of value and growth''. Cambridge.
* Morishima, Michio (1973), ''Theory of Demand: Real and monetary'', with co-authors.
* Morishima, Michio (1973), ''The Economic Theory of Modern Society''.
* Morishima, Michio (1974), "The Frobenius Theorem, Its Solow-Samuelson Extension and the Kuhn-Tucker Theorem", with T. Fujimoto, ''JMathE''.
*
* Morishima, Michio (1977), ''Walras's Economics: A pure theory of capital and money''.
*
* Morishima, Michio (1978), "The Cournot-Walras Arbitrage Resource Consuming Exchange and Competitive Equilibrium", with M. Majumdar, in ''Hommage a Francois Perroux''.
* Morishima, Michio (1982),''Why Has Japan Succeeded? Western technology and the Japanese ethos''.
* Morishima, Michio (1984), "The Good and Bad Uses of Mathematics", in Wiles and Routh, editors, ''Economics in Disarray''.
* Morishima, Michio (1984), ''The Economics of Industrial Society''.
* Morishima, Michio (1989), ''Ricardo's Economics''.
* Morishima, Michio (1991), "General Equilibrium Theory in the 21st Century", ''EJ''.
* Morishima, Michio (1992), ''Capital and Credit: A new formulation of general equilibrium theory''.
* Morishima, Michio (1994), "Capital and Growth", in Homouda, ''The Legacy of Hicks''.
* Morishima, Michio (1996), ''Dynamic Economic Theory''.
* Morishima, Michio (1999), ''Why do I expect Japan to collapse?'' In Freedman, Craig, (ed.) Why Did Japan Stumble?: Causes and Cures. Edward Elgar, Cheltenham, UK, pp. 25–73.
References
External links
Kyoto University
London School Economics (LSE)
Suntory and Toyota International Centres for Economic and Related Disciplines (STICERD) at LSE
{{DEFAULTSORT:Morishima, Michio
1923 births
2004 deaths
People from Osaka Prefecture
Historians of economic thought
Kyoto University alumni
Kyoto University faculty
Osaka University faculty
Academics of the University of Essex
Academics of the London School of Economics
Academics of the Open University
Presidents of the Econometric Society
Fellows of the Econometric Society
Place of death missing
Fellows of the British Academy
Recipients of the Order of Culture
Econometricians
20th-century Japanese economists