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

Mark D. Metzler

ISBN 10: 0801451795 / ISBN 13: 9780801451799

Published by Cornell University Press Apr 2013, 2013

About this Item

Neuware - Joseph Schumpeter is not thought of as a theorist of credit-supercharged high-speed growth, but that is what he became in postwar Japan. This new view helps also to explain Japan's bubble, and the global bubbles that have followed it.

Seller Inventory # 9780801451799

Bibliographic Details

• Title: Capital as Will and Imagination : Schumpeter's Guide to the Postwar Japanese Miracle
• Publisher: Cornell University Press Apr 2013
• Publication Date: 2013
• Language: English
• ISBN 10: 0801451795
• ISBN 13: 9780801451799
• Binding: Buch
• Condition: Neu
• Dimensions: 241W x 163H x 26D millimeters 241 millimeters width by 163 millimeters height by 26 millimeters depth
• Weight: 602 grams

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.