Japanese Discourses on the Marxian Theory of Finance

This edited volume traces the development of the Marxian theory of finance in Japan. Japanese Marxists have long been engaged in this field of study, yet their achievements are hardly known in other languages. Japanese Discourses on the Marxian Theory of Finance brings together in English for the first time six core essays essential to the understanding of the history and development of Japanese Marxian economics. Part I considers the so-called Uno-Miyake debate, which shaped the direction of the research in postwar Japan. Part II includes the three core essays influenced by Uno, including an essay by Shigekatsu Yamaguchi, who introduced a new method to systematically deal with “credit creation” which must be duly taken into consideration if scholars are to analyze today’s “financialization." Finally, the last two essays follow from Yamaguchi’s influential theory to consider the relation of banking with the capital market to complete the theory of finance in Marxian economics.