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In his final work, one that distills decades of research and thought, a distinguished economic thinker turned social scientist and philosopher confronts three crucial questions facing the world at the end of the century: How and in what form can a harmonious and stable post-cold war world order be created? How can the world maintain the economic performance necessary for the well-being of people while minimizing international economic conflicts and further deterioration of the world’s environment? What must be done to safeguard the freedoms of all peoples? In attempting to answer these questions, Murakami criticizes classical political-economic analysis and offers his own “anticlassical” analyses and visions for the next century. By classical political-economic analysis, Murakami refers to analyses of power politics based on the nation-state system and to classical and neoclassical economic analysis which holds that unimpeded competition and free trade are fundamental bases for increasing wealth for the benefit of all. Murakami’s anticlassical stance takes the form of a new, intellectually integrated and reasoned concept called “polymorphic liberalism,” which argues that traditional “progressivism”—the belief that humans have an ultimate unique path on which they will reach an ideal social and political-economic system—can no longer meet today’s challenges.
In his final work, Murakami confronts three crucial questions: How and in what form can a harmonious and stable post-cold-war world order be created? How can the world maintain the necessary economic performance while minimizing conflicts and environmental deterioration? What must be done to safeguard the freedoms of all peoples?
Nine essays critically evaluate Murakami's sanguine vision for the future which is sustained by "polymorphic liberalism," a new type of liberalism that reflects the needs of both developed and developing economies and the realities of the diversity of cultures.
The Economic Emergence of Modern Japan is a useful book for those interested in how Japan succeeded in transforming an agricultural economy into an advanced industrial economy. This volume brings together chapters from The Cambridge History of Japan, Volumes 5 and 6, and The Cambridge Economic History of Europe, Volume 7, part 2. Each of the seven chapters, written by leading specialists in Japanese economic history, explains in an authoritative, detailed analysis how institutions, the behaviour of individuals and firms, and official policies changed in order to enable Japan to accumulate capital, adopt new technology, ensure a skilled labour-force, and increase exports of manufactured goods. The authors pay special attention to distinctive Japanese institutions and policies, the effect of the Tokugawa legacy, and the impact of various wars, and the global economy.
This book is the eagerly awaited successor to Robert Gilpin's 1987 The Political Economy of International Relations, the classic statement of the field of international political economy that continues to command the attention of students, researchers, and policymakers. The world economy and political system have changed dramatically since the 1987 book was published. The end of the Cold War has unleashed new economic and political forces, and new regionalisms have emerged. Computing power is increasingly an impetus to the world economy, and technological developments have changed and are changing almost every aspect of contemporary economic affairs. Gilpin's Global Political Economy considers each of these developments. Reflecting a lifetime of scholarship, it offers a masterful survey of the approaches that have been used to understand international economic relations and the problems faced in the new economy. Gilpin focuses on the powerful economic, political, and technological forces that have transformed the world. He gives particular attention to economic globalization, its real and alleged implications for economic affairs, and the degree to which its nature, extent, and significance have been exaggerated and misunderstood. Moreover, he demonstrates that national policies and domestic economies remain the most critical determinants of economic affairs. The book also stresses the importance of economic regionalism, multinational corporations, and financial upheavals. Gilpin integrates economic and political analysis in his discussion of "global political economy." He employs the conventional theory of international trade, insights from the theory of industrial organization, and endogenous growth theory. In addition, ideas from political science, history, and other disciplines are employed to enrich understanding of the new international economic order. This wide-ranging book is destined to become a landmark in the field.
No nation was more deeply affected by America’s rise to world power than Japan. President Franklin Roosevelt’s uncompromising policy of unconditional surrender led to the catastrophic finale of the Asia-Pacific War and the most intrusive international reconstruction of another nation in modern history. Japan in the American Century examines how Japan, with its deeply conservative heritage, responded to the imposition of a new liberal order. The price Japan paid to end the occupation was a cold war alliance with the United States that ensured America’s dominance in the region. Still traumatized by its wartime experience, Japan developed a grand strategy of dependence on U.S. security guarantees so that the nation could concentrate on economic growth. Yet from the start, despite American expectations, Japan reworked the American reforms to fit its own circumstances and cultural preferences, fashioning distinctively Japanese variations on capitalism, democracy, and social institutions. Today, with the postwar world order in retreat, Japan is undergoing a sea change in its foreign policy, returning to an activist, independent role in global politics not seen since 1945. Distilling a lifetime of work on Japan and the United States, Kenneth Pyle offers a thoughtful history of the two nations’ relationship at a time when the character of that alliance is changing. Japan has begun to pull free from the constraints established after World War II, with repercussions for its relations with the United States and its role in Asian geopolitics.
The Japanese economy, after decades of seemingly unsurpassable competitiveness, experienced a major crisis in the 1990s. Observers of Japan are faced with a challenging question: How can one explain Japan's reversal from stunning prosperity to dismal stagnation? Bai Gao, in this illuminating, comprehensive analysis of Japan's economic story goes beyond other analyses to demonstrate how the same economic institutions could produce both stunning economic success and the slump of the 1990s. By comparing the factors that sustained miracle growth in Japan in the 1960s and 1970s with the factors that led to the bubble economy of the late 1980s, Gao sheds new light on internal tensions in the Japanese economic system and how, finally, they 'burst the bubble' in the 1990s. Those who have been following the lively debate over 'What Became of the Japanese Miracle?' will be rewarded by Gao's richly detailed, historically informed, and multilayered contribution.
In Asia's Flying Geese, Walter F. Hatch tackles the puzzle of Japan's paradoxically slow change during the economic crisis it faced in the 1990s. Why didn't the purportedly unstoppable pressures of globalization force a rapid and radical shift in Japan's business model? In a book with lessons for the larger debate about globalization and its impact on national economies, Hatch shows how Japanese political and economic elites delayed—but could not in the end forestall—the transformation of their distinctive brand of capitalism by trying to extend it to the rest of Asia.For most of the 1990s, the region grew rapidly as an increasingly integrated but hierarchical group of economies. Japanese diplomats and economists came to call them "flying geese." The "lead goose" or most developed economy, Japan, supplied the capital, technology, and even developmental norms to second-tier "geese" such as Singapore and South Korea, which themselves traded with Thailand, Malaysia, and the Philippines, and so on down the V-shaped line to Indonesia and coastal China. Japan's model of capitalism, which Hatch calls "relationalism," was thus fortified, even as it became increasingly outdated. Japanese elites enjoyed enormous benefits from their leadership in the region as long as the flock found ready markets for their products in the West.The decade following the collapse of Japan's real estate and stock markets would, however, see two developments that ultimately eroded the country's economic dominance. The Asian economic crisis in the late 1990s destabilized many of the surrounding economies upon which Japan had in some measure depended, and the People's Republic of China gained new prominence on the global scene as an economic dynamo. These changes, Hatch concludes, have forced real transformation in Japan's corporate governance, its domestic politics, and in its ongoing relations with its neighbors.
Joseph Schumpeter oscillated in his view about the type of economic system that was most conducive to growth. In his 1911 treatise, Schumpeter argued that a more decentralized and turbulent industry structure where the pro cess of creative destruction was triggered by vigorous entrepreneurial ac tivity was the engine of economic growth. But by 1942 Schumpeter had modified his theory, arguing instead that a more centralized and stable industry structure was more conducive to growth. According to Schum peter (1942, p. 132), under the managed economy there was little room for entrepreneurship because, "Innovation itself is being reduced to routine. Technological progress is increasingly becoming the business of teams of trained specialists who turn out what is required to make it work in pre dictable ways" (p. 132). Schumpeter (1942) reversed his earlier view by arguing that the integration of knowledge creation and appropriation be stowed an inherent innovative advantage upon giant corporations, "Since capitalist enterprise, by its very achievements, tends to automize progress, we conclude that it tends to make itself superfluous - to break to pieces under the pressure of its own success.
The West and the East approach economic development differently. The Europeans and Americans stress free and fair business climate, promoting private activities generally without picking winners, and improving governance. East Asia is interested in achieving concrete results and projects rather than formal correctness, prioritizing a few sectors for industrialization, and eventual graduation from aid. The West mostly shapes shifting strategies of the international donor community while the East has in reality made remarkable progress in industrial catch-up. The two approaches cannot be merged easily but they can be used in proper combination to realize growth and economic transformation. This book proposes more dialogue and complementarity between the two in the development effort of Africa and other regions. In this collected volume, contributed by experts and practitioners from both East and West, the need to introduce Eastern ideas to the global development strategy is emphasized. Analysis of British and other Western donor policies is given while Japanese, Korean, and other Asian approaches are also explained with concrete examples. The concept of governance for growth is presented and the impact of rising China on development studies is contemplated. The practices of industrial policy dialogues and actions assisted by East Asian experts are reported from Tunisia, Zambia, Ethiopia, Rwanda, and others. The book should be applicable to all donors, institutions, NGOs and business enterprises engaged in development cooperation.