Capital as Will and Imagination: Schumpeter s Guide to the Postwar Japanese Miracle

Mark Metzler

ISBN 10: 0801451795 / ISBN 13: 9780801451799

Published by Cornell University Press, 2013

About this Item

Series: Cornell Studies in Money. Num Pages: 312 pages, black & white illustrations. BIC Classification: 1FPJ; 3JJ; KCZ. Category: (G) General (US: Trade). Dimension: 163 x 241 x 26. Weight in Grams: 602. . 2013. hardcover. . . . . Books ship from the US and Ireland.

Seller Inventory # V9780801451799

Bibliographic Details

• Title: Capital as Will and Imagination: Schumpeter s Guide to the Postwar Japanese Miracle
• Publisher: Cornell University Press
• Publication Date: 2013
• Language: English
• ISBN 10: 0801451795
• ISBN 13: 9780801451799
• Binding: Hardcover
• Condition: New

About this title

Synopsis

Capital as Will and Imagination investigates the nature of capital creation--a fundamental, unresolved question in the history of capitalism. Japan's experience after World War II offers the clearest possible case study. To understand what happened, this study turns to a neglected aspect of Joseph Schumpeter's theory of economic development: the nexus between money creation by banks, investment, and inflation. Economists and planners in postwar Japan found in Schumpeter's ideas a description of what they saw happening around them. They also put these ideas directly to work. Asian-style high-speed growth, as pioneered in Japan in the 1950s, presents capitalist industrial development in its most intensified form, but in fact the story is a global one. The shadow of credit is debt, and the worldwide debt bubbles of recent times reveal the limits of the twentieth-century growth model.

About the Author

Mark Metzler is Professor of History at the University of Texas at Austin. He is the coauthor of Central Banks and Gold: How Tokyo, London, and New York Shaped the Modern World, also from Cornell, and author of Lever of Empire: The International Gold Standard and the Crisis of Liberalism in Prewar Japan.