Nobuo Okishio

Nobuo Okishio (Japanese置 塩 信 雄, Okishio Nobuo, born January 2, 1927 at Hyōgo -ku, Kobe, † 13 November 2003) was a Japanese economist and professor emeritus at the University of Kobe. In 1979 he became the president of the Japanese Association of Economics and Econometrics (理论·计量 経 済 学会, riron keiryō keizai gakkai ), which is now called Japanese Economic Association.

Okishio studied business mathematics with Kazuo Mizutani. In 1950 he graduated from Kobe University and taught there as well. He then began the principles of modern economics to doubt and studied Marxist economic theory.

The work of Okishio busied himself ' to explain economic theory aspects of Marx's theories and provided formal ( and mathematical ) proofs. In 1955 he proved the first Marxist fundamental theorem that only labor can create added value leading to profit, as the value of the raw materials needed for production and materials is given. The Okishio theorem states that the rate of profit for the economy as a whole is higher if a new, more profitable from the perspective of individual enterprise technology is introduced. It is contrary to the Marxist law of the tendential fall in the profit rate.

Okishio wrote many articles on important areas of modern and Marxist economic theory, for example, the value and price theory of accumulation, critical analysis of Keynesianism, economic and long-term developments of capitalist economies. His ideas were in over twenty books and two hundred articles, most of them published in Japanese. Thirty articles are published in English and its main contributions are in the book ( Nobuo Okishio, Michael Kruger and Peter Flaschel, 1993) summarized.

  • 2.1 Books
  • 2.2 Article

Value -and theory of exploitation

How much is labor

Okishio showed how the Marxist value can be (according to labor theory of value ) determined quantitatively. Okishio presented the following equation as much direct and indirect labor is needed to produce one unit of the good:

Ti = Σaij ? i ( i = 1, ...., n). ij is the number of commodity j? i and the labor force is directly needed to produce one unit of commodity i. The idea came to him for the first time, when he in 1954 Kokan - ron ni tsuite (交換 論 について; About the exchange theory ) wrote, and he formulated in 1955 even clearer in the English article "Monopoly and the Council of Profits", which he in Kobe University Economic Review published. To better understand the equation itself, see Input -output analysis.

Marxist Fundamental Theorem

With the above equality Tung proved Okishio Marx's fundamental statement that overtime is a necessary condition to achieve profit. Later Michio Morishima called this phrase " Marxist Fundamental Theorem ". The proof is based on profit as a percentage of the price, and infers the existence of a surplus value as a logical consequence. This is the opposite direction of Marx, proceeding out of the value ( economic ) and price and profit derived.

Determination of value and price

If you put this value equation based, one can determine by means of the developed after the Second World War, input-output tables, how much of what raw material included in merchandise. This yields the value of the goods, which may be compared with the actual demanded in the market price. While there may be significant short-term variations, the prices are approaching the long run the value of (quote is missing).

Okishio tried for the first time in 1958 for the Japanese economy. Since then exist such quantitative analysis in many countries.

Publications

  • Nobuo Okishio ed (1992 ), Business cycles: theories and numerical simulation ( Dynamic Economic Theory, vol 12), Peter Lang Publishing.
  • Nobuo Okishio, Michael Kruger and Peter Flaschel (1993 ), Nobuo Okishio - Essays on Political Economy: Collected Papers, Peter Lang Publishing ( ISBN 3-631-43558-4 ).

Article

  • "Monopoly and the Council of Profit ", 1955, Kobe University economic review from 1.71 to 88.
  • " Durable Equipment and Equilibrium Growth", 1958, Kobe University economic review from 4.29 to 40.
  • " Technical Changes and the Rate of Profit", 1961, Kobe University economic review from 7.85 to 99.
  • " A Mathematical Note on Marxian Theory", 1963, Weltwirtschaftliches Archiv 91-2.
  • " Instability of Harrod Domar = 's Steady Growth", 1964, Kobe University economic review from 10.19 to 27.
  • "On Mr. N. Kaldor 's Growth Model ", 1967, Kobe University economic review 13, 43-58.
  • "An extension of a discrete version of Pontryagin 's Maximum Principle and Its Simple Application", 1970, Kobe University economic review from 16.37 to 48.
  • "A Formal Proof of Marx 's Two theorem ", 1972 Kobe University economic review 18:1-6.
  • "Value and Production -Price ", 1974, Kobe University economic review from 20.1 to 19.
  • "Fixed Capital and Extended Reproduction", 1975, Kobe University economic review from 21.11 to 27.
  • " Fundamental Marxian Theorem: Joint Production Case ", 1976, Kobe University economic review from 22.1 to 11.
  • "Inflation as on expression of Class Antagonisms ", 1977, Kobe University economic review from 23.17 to 29.
  • " Theorem of Investment Truncation ", The annals of the School of Business Administration, Kobe University from 21.73 to 90.1977.
  • "Notes on Technical Progress and Capitalist Society ", 1977, Cambridge Journal of Economics 1 ( 1), 93-100.
  • "Three Topics on Marxian Fundamental Theorem ", 1978, Kobe University economic review from 24.1 to 18.
  • " Dimensional Analysis in Economics", 1982, Kobe University economic review from 28.31 to 44.
  • "The decision of New Investment, Technique and Rate of Utilization", 1984, Kobe University economic review from 30.15 to 32.
  • "A Measurement of the Rate of Surplus Value in Japan: The 1980 Case ," 1985, Kobe University economic review from 31.1 to 13.
  • " Stagflation: Causes and Policies ", 1986, Kobe economic and business review from 32.33 to 54.
  • "Theoretical Foundations of International Macro - Economic Model ", 1987, Kobe University economic review from 33.1 to 16.
  • "On Marx 's Reproduction Scheme ", 1988, Kobe University economic review from 34.1 to 24.
  • "Problems and Method of Economics ", 1989, Kobe economic and business review from 34.101 to 108.
  • "On the Theories of Determination of the Real Wage Rate", 1989, Kobe University economic review from 35.1 to 13.
  • "The Permissible Range of Relative Prices in the Light Lavor of Values", 1995, Kobe University economic review from 41.1 to 14.
  • "Competition and Production Price", 2000, Cambridge Journal of Economics 25 ( 4), 493-501.

Swell

  • Marxist economist
  • University teachers ( Kobe )
  • Marxist theorists (Japan)
  • Japanese
  • Born 1927
  • Died in 2003
  • Man
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