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Books > Social sciences > Politics & government > Central government > Central government policies
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Dr. Osamu Shimomura's Legacy and the Postwar Japanese Economy (Paperback, 1st ed. 2017)
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Dr. Osamu Shimomura's Legacy and the Postwar Japanese Economy (Paperback, 1st ed. 2017)
Series: Development Bank of Japan Research Series
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This book elucidates the economic conditions and policies during
the post War Japanese economy from the view point of an influential
policy maker. Dr. Osamu Shimomura is one of the most eminent
economists in Japan. He entered the Ministry of Finance and played
a crucial role in actualizing the High-Growth era from the late
1950s to the early 70s. "The Doubling Income Plan", which is issued
by the Ikeda cabinet, originates from him. It should be noted that
while most economists held pessimistic view on the future,
Shimomura is brave and foresighted. Shimomura's theory is not
merely one of the pioneer works in macroeconomics, but also suits
the economic conditions of Japan. Shimomura extends the principle
of effective demand, which means that his theory includes effects
of capital accumulation to production capacity. While one may argue
that Harrod (1939) and Domar (1946) have already achieved that,
Shimomura's theory centers policy recommendations for sustaining
the high economic growth against the productivity growth that would
cause excess supply in the market. Succinctly, Shimomura is a
Keynesian who believes the vigor in its private sector but
recognizes that Japanese economy urgently needs the government's
auxiliary macroeconomic policies. This book emphasizes that the
rapid Japanese growth owes mainly to affluent entrepreneurship
filled in the economy not to the sheer government's planning. Dr.
Shimomura's theory endorses our assertion.
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