{"product_id":"capital-as-will-and-imagination-schumpeters-guide-to-the-postwar-japanese-miracle-hardback-9780801451799","title":"Capital As Will and Imagination; Schumpeter's Guide to the Postwar Japanese Miracle (Hardback) 9780801451799","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eCapital As Will and Imagination\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eSchumpeter's Guide to the Postwar Japanese Miracle\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eMark D. Metzler (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780801451799\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 15 April 2013\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e320 pages, 7 tables - 2 Tables, unspecified - 11 Charts\u003cbr\u003e23.5 x 15.5 x 2.5 cm, 0.907 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eMetzler has produced an incisive work full of stimulating insights into the capitalist development process as well as new and challenging ways of thinking about Japan's economic performance since World War II.\u003c\/p\u003e - Steven J. Ericson (Journal of Japanese Studies) \u003cp\u003eThis richly detailed study of the financial roots of Japan's high-growth era and meditation on the high costs of the ensuing bubble collapse is highly recommended for not only students of Japanese financial history, but anyone interested in the role of states and banks in the future of world capitalism.\u003c\/p\u003e - John Sagers (The Journal of Asian Studies) \u003cp\u003eWhile maintaining a theoretical emphasis on these Schumpeterian principles of economic growth, Metzler also gives us a rich description of how one economy, that of early post-war Japan, executed the Schumpeter.... In this analysis, Metzler displays a careful, thorough examination of sources.... It is refreshing to see a book that emphasizes the role of the Ministry of Finance (mof) and the Economic Planning units.\u003c\/p\u003e - Tom Roehl (The Journal of Interdisciplinary History) \u003cp\u003e\u003ci\u003eCapital as Will and Imagination\u003c\/i\u003eis a Schumpeterian guide to the postwar economic miracle in that the inflationarycreation of credit was theorized by Schumpeter (over a century ago!). Indeed, Metzlerpresents compelling reasons for why we should be paying attention to Schumpeter'sideas right now.Thought-provoking, intellectually curious, and at timesdownright challenging, \u003ci\u003eCapital as Will and Imagination \u003c\/i\u003etests the reader's knowledgeand interpretation of the events that have come to characterize and define modernJapanese history. Replete with astute references and finely drawn observations, it is awork of great wisdom and intellect, a must for all those who seek to understand themiracle of Japan's postwar economic growth.\u003c\/p\u003e - Simon James Bytheway (Momumenta Nipponica)\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cp\u003e\u003cb\u003eJoseph Schumpeter's conceptions of entrepreneurship, innovation, and creative destruction have been hugely influential\u003c\/b\u003e. He pioneered the study of economic development and of technological paradigm shifts and was a forerunner of the emerging field of evolutionary economics. He is not thought of as a theorist of credit-supercharged high-speed growth, but this is what he became in postwar Japan. As Mark Metzler shows in Capital as Will and Imagination, economists and planners in postwar Japan seized upon Schumpeter's ideas and put them directly to work. \u003c\/p\u003e \u003cp\u003eThe inflationary creation of credit, as theorized by Schumpeter, was a vital but mostly unrecognized aspect of the successful stabilization of Japanese capitalism after World War II and was integral to Japan's postwar success. It also helps to explain Japan's bubble, and the global bubbles that have followed it. The heterodox analysis presented in Capital as Will and Imagination goes beyond the economic history of postwar Japan; it opens up a new view of the core circuits of modern capital in general.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eIntroduction: Inflation and Its Productions\u003cb\u003eChapter 1. The Revolution in Prices\u003c\/b\u003e\u003cbr\u003e \u003ci\u003e1.1 Faustian Capital \/ 1.2 World War I and the Political Economy of Twentieth-Century Inflation \/ 1.3 Postwar Stabilization \/ 1.4 The Great Inflation of the 1940s \/ 1.5 Exporting Inflation \/ 1.6 The Inflation Comes Home\u003c\/i\u003e\u003cb\u003eChapter 2. Dramatis Personae\u003c\/b\u003e\u003cbr\u003e \u003ci\u003e2.1 \"The Schumpeter Vogue\" \/ 2.2 At the Monetary Bonfire \/ 2.3 The Marxists \/ 2.4 The Capital Creator \/ 2.5 The Schumpeterians\u003c\/i\u003e\u003cb\u003eChapter 3. What Is Capital?\u003c\/b\u003e\u003cbr\u003e \u003ci\u003e3.1 When New Capital Comes onto the Stage \/ 3.2 The Distribution of Promises \/ 3.3 Credit Inflation the Mechanism of Capitalist Development \/ 3.4 Capital as Indication \/ 3.5 The Capitalist Process as an Ideal–Material Circuit\u003c\/i\u003e\u003cb\u003eChapter 4. Flows and Stores\u003c\/b\u003e\u003cbr\u003e \u003ci\u003e4.1 Energy, Capital, and Debt \/ 4.2 Flows of Production \/ 4.3 Stores of Promises \/ 4.4 Saving Follows from Investment \/ 4.5 Power and Planning\u003c\/i\u003e\u003cb\u003eChapter 5. Japanese Capitalism under Occupation\u003c\/b\u003e\u003cbr\u003e \u003ci\u003e5.1 Imagining Postwar Development \/ 5.2 First Responses: Burning, Looting, and Printing \/ 5.3 The Amplification of Monetary Flows \/ 5.4 The Constriction of Material-Energetic Flows \/ 5.5 Liquidating Japanese Capitalism\u003c\/i\u003e\u003cb\u003eChapter 6. Inflation as Capital\u003c\/b\u003e\u003cbr\u003e \u003ci\u003e6.1 The Ishibashi Line \/ 6.2 The ESB Line: \"Modified Capitalism\" \/ 6.3 Inflation and Social Leveling \/ 6.4 Taxation as Monetary Regulation \/ 6.5 The Limits of Modified Capitalism\u003c\/i\u003e\u003cb\u003eChapter 7. Interlude (Deflation)\u003c\/b\u003e\u003cbr\u003e \u003ci\u003e7.1 Joseph Dodge and the Theory of Capital Restriction \/ 7.2 The Sphere of International Capital \/ 7.3 Ministers of Restriction \/ 7.4 \"The So-Called Stabilization Panic\" \/ 7.5 Inside Money and Outside Money \/ 7.6 The World Economic Crisis\u003c\/i\u003e\u003cb\u003eChapter 8. The State-Bank Complex\u003c\/b\u003e\u003cbr\u003e \u003ci\u003e8.1 Banking as Economic Governance \/ 8.2 Superdirect Finance \/ 8.3 The Privatization of the Positive Policy\u003c\/i\u003e\u003cb\u003eChapter 9. The Turning Point\u003c\/b\u003e\u003cbr\u003e \u003ci\u003e9.1 A Schumpeterian Turning Point \/ 9.2 Social Sources of Keynesian Stabilization \/ 9.3 The Second Try at Global Postwar Stabilization: Some Interim Conclusions \/ 9.4 Dollar Capital as Divine Providence \/ 9.5 \"Dangerous Delusions\"\u003c\/i\u003e\u003cb\u003eChapter 10. High-Speed Growth: The Schumpeterian Boom\u003c\/b\u003e\u003cbr\u003e \u003ci\u003e10.1 The Restoration of the Business Cycle \/ 10.2 \"The Postwar Is Over\": The Schumpeterian Boom Begins \/ 10.3 Ishibashi and Ikeda: The Ascent of the Positive Policy \/ 10.4 The International Circuit: The External Capital Constraint\u003c\/i\u003e\u003cb\u003eChapter 11. High-Speed Growth: Indication and Flow\u003c\/b\u003e\u003cbr\u003e \u003ci\u003e11.1 The Domestic Circuit: Imagined Capital for Real Growth \/ 11.2 Monetary \"Flows,\" \"Leakages,\" and \"Absorption\" \/ 11.3 Credit Creation as Planning; Planning as Credit Creation \/ 11.4 The Investment Doubling Plan\u003c\/i\u003e\u003cb\u003eChapter 12. Conclusions: \u003ci\u003eCredere\u003c\/i\u003e and \u003ci\u003eDebere\u003c\/i\u003e\u003c\/b\u003e\u003cbr\u003e \u003ci\u003e12.1 Norms and Exceptions \/ 12.2 Stocks of Debt and Debt-Destruction Crises \/ 12.3 Autodeflation \/ 12.4 Mirrors and Miracles\u003c\/i\u003e\u003cb\u003eAppendix\u003c\/b\u003e\u003cbr\u003e Table A-1. Basic indicators of money and credit, 1868–1965\u003cbr\u003e Table A-2. Credit creation and industrial investment, 1940–1965\u003cbr\u003e Table A-3. Prices and wages, 1936–1965\u003cbr\u003e Table A-4. Indicators of manufacturing production, 1936–1965\u003ci\u003eNotes\u003cbr\u003e References\u003cbr\u003e Index\u003c\/i\u003e\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cornell University Press","offers":[{"title":"Brand New","offer_id":52541698474264,"sku":"9780801451799","price":41.59,"currency_code":"GBP","in_stock":true}],"url":"https:\/\/freshlyprintedbooks.co.uk\/products\/capital-as-will-and-imagination-schumpeters-guide-to-the-postwar-japanese-miracle-hardback-9780801451799","provider":"Freshly Printed Books","version":"1.0","type":"link"}