Makoto Itoh
Biographic Data
| ID | 3673520 |
|---|---|
| NAME | Makoto Itoh |
| GIVEN NAMES | Makoto |
| FAMILY NAME | Itoh |
| SIGNATURE | ITOH M |
| AFFILIATIONS | The University of Tokyo |
| ORCID | 0000-0002-4904-1466 |
| VERIFIED | Yes |
| TOTAL WORKS | 30 |
| TOTAL CITATIONS | 88 |
| AUTHOR COUNT | 28 |
| EDITOR COUNT | 2 |
| FIRST PUBLICATION YEAR | 1976 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 3 |
Using Video Introduction to Mitigate Affect‐Based Initial Trust in Automation
Initial trust in automation influences people's initial decisions to embrace and utilize automation. However, too much trust in automation, beyond the automation's actual reliability and capability, can lead to its misuse or abuse. Specifically, affect‐based initial trust in automation can be easily fostered without enhancing the system's actual reliability and capability. Therefore, the current study aimed to investigate a strategy to help mitig…
Japan’s Secular Stagnation and Beyond
G. A. Epstein’s critique of MMT re-estimated
This is a review article on G. Epstein’s new book What’s Wrong with Modern Money Theory?: A Policy Critique (2019). The first section reviews the main contributions of this book in clarifying the characteristic contents of Modern Money Theory (MMT), and their worrying limitations if applied generally in the world. The second section demonstrates that the Japanese economy in the past decades in fact cannot be a model case to support the applicabil…
Japanese capitalism in multiple crises
Japanese capitalism represents a typical case of a decay in advanced countries under neoliberalism. It has formed a vicious circle among multiple socio-economic crises. Japan’s secular stagnation is composed from such complex crises in a viscious circle. I have concerned its historical significance as an important aspect of the third world great depression after the first great depression in 1873–1896, and the second one in the 1930s, since my an…
The reproductive crisis in neoliberal capitalism
In the first section, this paper comments favorably on Elson’s recent paper applying the “gender lens” to rising economic inequalities under neoliberal capitalism. Although increased participation of women in the labor market reduced economic inequalities within and between households to some extent, it widened the income gap between capital and labor. I note and comment on similar trends in the Japanese economy. In the second section, this paper…
Marx’s theory of value for socialism
Possibilities of socialism are coming back globally through multiple crises in capitalist market economies. This paper reexamines how Marx’s theory of value can be utilized as a theoretical foundation for socialism in our age. Especially Marx’s original theory of forms and substance of value enables us to conceive various models of market socialism as well as democratic planned economy. Functions of socialist forms of money (s-money) and prices (…
Japanese Demographic Crisis in View of Marx's Capitalist Law of Population
In more than four decades, Japanese society has rapidly intensified a tendency towards a very low fertility rate with a smaller number of children. It is generally confirmed that a society needs a total fertility rate of at least 2.1 in order to avoid a decline in its total population. The total fertility rate in Japan was still 2.14 in 1973, when the period of high economic growth in the post-World War II ended. It continued to decline to 1.26 i…
How to apply Uno theory to contemporary capitalism in multiple crises
Starting with characterization of Uno theory, this article reviews representative works to apply Uno's theory of economic crises based on Marx to contemporary capitalism after World War I in three distinctive periods: first, the 30 years of interwar period including the worldwide Great Depression after 1929; second, the post-World War II period of high economic growth continuing until the beginning of the 1970s without serious economic crisis; an…
The structural change in the world economy with a decay in advanced countries
This article focuses on three aspects of structural changes in the world economy. First, advanced countries are decaying with lower growth, accompanied by increased economic inequality and instability. Most of them are facing a demographic and ecological crisis. Second, the dynamic center of the world economy is shifting to developing countries. Their trajectories were diversified into three types: oil-producing rentier countries, stagnating LLDC…
Political Economy of Money, Credit and Finance in Contemporary Capitalism
Qu'est-ce que le néolibéralisme
The New Interpretation and the Value of Money
This chapter examines the significance of the so-called new interpretation of Marx’s theory of transforming values into prices of production in the first section, as well as remaining related issues in the second section, focusing on the definitions of the value of money and the value of labour-power. Since an important shortcoming of the new interpretation is the absence of any theory of the exchange-value of money, we shall try to fill this gap…
The Japanese Economy in Structural Difficulties
According to The Annual Economic Fiscal Report (July 2004) prepared by the Ministry of Economic and Fiscal Policy, the Japanese economy is recovering from the prolonged stagnation that began with the bursting of the financial bubble in 1990-91. This recovery started at the beginning of 2002. It is characterized by the restored increase of both profitability and spending on plant and equipment in the private business sector and an increase in dema…
Spiral Reversal of Capitalist Development
The attempt to reinterpret history in terms of its phases of development closely reflects our efforts to understand the contemporary age and to gain perspective on the future. It should be our common concern to characterize the current period of crisis and restructuring since 1973 from the point of view of phases of capitalist development. For this purpose, the preceding phase of high economic growth lasting about a quarter century particularly n…
Phases of Capitalist Development
In this collection authors from eight different countries, representing a wide variety of academic disciplines and theoretical perspectives, investigate the differing phases of capitalist development
Capitalism in Evolution
Contributors to this volume argue that to understand capitalism in evolution, this diversity of systems and approaches must be taken into account and their individual evolutions analysed. This book represents a major understanding of the evolution of capitalism in the twenty first century and brings together a distinguished group of experts with perspectives from America, Europe and Japan
The Japanese Economy Reconsidered
The Japanese economy has shown paradoxical changes. Its successes in forming a company-centred society generated the long downturn toward zero-growth capitalism. Successful spread of information technologies resulted in deterioration of economic life among working people and a wide fall in birth rate. At the zenith of the Japanese model of company system, a huge bubble swelled, so as to prepare a prolonged depression throughout the 1990s. Neolibe…
Political Economy of Money and Finance
To explain the pronounced instability of the world economy since the 1970s, the book offers an important and systematic theoretical examination of money and finance. It re-examines the classical foundations of political economy and the creator of money. It assesses all of the important theoretical schools since then, including Marxist, Keynesian, post-Keynesian and monetarist thinkers. By presenting important insights from Japanese political econ…
Money and Credit in Socialist Economies
How should socialist economies treat money? Theoretically at least three different cases are conceivable. First, a form of socialist quasi-money (s-money) or labour certificate is introduced, called labour-money'. Second, another form of s-money is possible without accounting for labour-time but with publicly determined prices. Third, money exists in a market socialist economy. This paper examines the nature of money in the Soviet Union, and crit…
Is the Japanese economy in crisis
Although the Japanese economy is often seen as exempt from the crisis, it also has experienced wild business fluctuations and prolonged depressive industrial difficulties since 1973 much in common with other capitalist countries. Beginning from the preceding period of high economic growth, this paper examines the origins and the changing phases of the economic crisis in Japan. Then it analyses the factors for its persistent depression, such as a …
The Basic Theory of Capitalism
Skilled Labour in Value Theory
This paper reviews various treatments of the skilled labour problem in value theory. It argues that skilled workers' own labour embodies the same amount of labour substance of value as do unskilled workers in a unit of labour time. This is an egalitarian view which impacts on a number of debates. Some of these ramifications are illustrated with discussions of international trade and unequal exchange, socialism and inequality, and the reproduction…
Capitalist Crisis and Marxist Theory
The World Economic Crisis
As the unemployment figures continue to increase implacably upwards, it is sobering to reflect that the underlying structural crisis of the world capitalist system is now in its tenth year. The recent article by Michel Aglietta (‘World Capitalism in the Eighties’) in nlr 136 (November–December 1982) is
The great world crisis and Japanese capitalism
The first half of this article summarises and applies Itoh's overaccumulation thesis to the current world depression. The second half gives a detailed account of instabilities within the Japanese economy since the early 1970s, and argues that Japan should not be seen as immune to the world crisis nor responsible for it due to disruptive trade policies. It is a salutory reminder to socialists to resist the drift towards nationalistic arguments
Phases of Capitalist Development
In this collection authors from eight different countries, representing a wide variety of academic disciplines and theoretical perspectives, investigate the differing phases of capitalist development
Is the Japanese economy in crisis
Although the Japanese economy is often seen as exempt from the crisis, it also has experienced wild business fluctuations and prolonged depressive industrial difficulties since 1973 much in common with other capitalist countries. Beginning from the preceding period of high economic growth, this paper examines the origins and the changing phases of the economic crisis in Japan. Then it analyses the factors for its persistent depression, such as a …
Skilled Labour in Value Theory
This paper reviews various treatments of the skilled labour problem in value theory. It argues that skilled workers' own labour embodies the same amount of labour substance of value as do unskilled workers in a unit of labour time. This is an egalitarian view which impacts on a number of debates. Some of these ramifications are illustrated with discussions of international trade and unequal exchange, socialism and inequality, and the reproduction…
The Formation of Marx's Theory of Crisis
A Study of Marx's Theory of Value
The reproductive crisis in neoliberal capitalism
In the first section, this paper comments favorably on Elson’s recent paper applying the “gender lens” to rising economic inequalities under neoliberal capitalism. Although increased participation of women in the labor market reduced economic inequalities within and between households to some extent, it widened the income gap between capital and labor. I note and comment on similar trends in the Japanese economy. In the second section, this paper…
Japanese Demographic Crisis in View of Marx's Capitalist Law of Population
In more than four decades, Japanese society has rapidly intensified a tendency towards a very low fertility rate with a smaller number of children. It is generally confirmed that a society needs a total fertility rate of at least 2.1 in order to avoid a decline in its total population. The total fertility rate in Japan was still 2.14 in 1973, when the period of high economic growth in the post-World War II ended. It continued to decline to 1.26 i…
Capitalist Crisis and Marxist Theory
Japanese capitalism in multiple crises
Japanese capitalism represents a typical case of a decay in advanced countries under neoliberalism. It has formed a vicious circle among multiple socio-economic crises. Japan’s secular stagnation is composed from such complex crises in a viscious circle. I have concerned its historical significance as an important aspect of the third world great depression after the first great depression in 1873–1896, and the second one in the 1930s, since my an…
The structural change in the world economy with a decay in advanced countries
This article focuses on three aspects of structural changes in the world economy. First, advanced countries are decaying with lower growth, accompanied by increased economic inequality and instability. Most of them are facing a demographic and ecological crisis. Second, the dynamic center of the world economy is shifting to developing countries. Their trajectories were diversified into three types: oil-producing rentier countries, stagnating LLDC…
Political Economy of Money, Credit and Finance in Contemporary Capitalism
Qu'est-ce que le néolibéralisme
The Inflational Crisis of World Capitalism
A Study of Marx's Theory of Value
The Formation of Marx's Theory of Crisis
The Inflational Crisis of World Capitalism
Value and crisis
On Marx's Theory of Accumulation
The World Economic Crisis
As the unemployment figures continue to increase implacably upwards, it is sobering to reflect that the underlying structural crisis of the world capitalist system is now in its tenth year. The recent article by Michel Aglietta (‘World Capitalism in the Eighties’) in nlr 136 (November–December 1982) is
The great world crisis and Japanese capitalism
The first half of this article summarises and applies Itoh's overaccumulation thesis to the current world depression. The second half gives a detailed account of instabilities within the Japanese economy since the early 1970s, and argues that Japan should not be seen as immune to the world crisis nor responsible for it due to disruptive trade policies. It is a salutory reminder to socialists to resist the drift towards nationalistic arguments
Capitalist Crisis and Marxist Theory
Skilled Labour in Value Theory
This paper reviews various treatments of the skilled labour problem in value theory. It argues that skilled workers' own labour embodies the same amount of labour substance of value as do unskilled workers in a unit of labour time. This is an egalitarian view which impacts on a number of debates. Some of these ramifications are illustrated with discussions of international trade and unequal exchange, socialism and inequality, and the reproduction…
The Basic Theory of Capitalism
Is the Japanese economy in crisis
Although the Japanese economy is often seen as exempt from the crisis, it also has experienced wild business fluctuations and prolonged depressive industrial difficulties since 1973 much in common with other capitalist countries. Beginning from the preceding period of high economic growth, this paper examines the origins and the changing phases of the economic crisis in Japan. Then it analyses the factors for its persistent depression, such as a …
Money and Credit in Socialist Economies
How should socialist economies treat money? Theoretically at least three different cases are conceivable. First, a form of socialist quasi-money (s-money) or labour certificate is introduced, called labour-money'. Second, another form of s-money is possible without accounting for labour-time but with publicly determined prices. Third, money exists in a market socialist economy. This paper examines the nature of money in the Soviet Union, and crit…
Political Economy of Money and Finance
To explain the pronounced instability of the world economy since the 1970s, the book offers an important and systematic theoretical examination of money and finance. It re-examines the classical foundations of political economy and the creator of money. It assesses all of the important theoretical schools since then, including Marxist, Keynesian, post-Keynesian and monetarist thinkers. By presenting important insights from Japanese political econ…
The Japanese Economy Reconsidered
The Japanese economy has shown paradoxical changes. Its successes in forming a company-centred society generated the long downturn toward zero-growth capitalism. Successful spread of information technologies resulted in deterioration of economic life among working people and a wide fall in birth rate. At the zenith of the Japanese model of company system, a huge bubble swelled, so as to prepare a prolonged depression throughout the 1990s. Neolibe…
Spiral Reversal of Capitalist Development
The attempt to reinterpret history in terms of its phases of development closely reflects our efforts to understand the contemporary age and to gain perspective on the future. It should be our common concern to characterize the current period of crisis and restructuring since 1973 from the point of view of phases of capitalist development. For this purpose, the preceding phase of high economic growth lasting about a quarter century particularly n…
Phases of Capitalist Development
In this collection authors from eight different countries, representing a wide variety of academic disciplines and theoretical perspectives, investigate the differing phases of capitalist development
Capitalism in Evolution
Contributors to this volume argue that to understand capitalism in evolution, this diversity of systems and approaches must be taken into account and their individual evolutions analysed. This book represents a major understanding of the evolution of capitalism in the twenty first century and brings together a distinguished group of experts with perspectives from America, Europe and Japan
The New Interpretation and the Value of Money
This chapter examines the significance of the so-called new interpretation of Marx’s theory of transforming values into prices of production in the first section, as well as remaining related issues in the second section, focusing on the definitions of the value of money and the value of labour-power. Since an important shortcoming of the new interpretation is the absence of any theory of the exchange-value of money, we shall try to fill this gap…
The Japanese Economy in Structural Difficulties
According to The Annual Economic Fiscal Report (July 2004) prepared by the Ministry of Economic and Fiscal Policy, the Japanese economy is recovering from the prolonged stagnation that began with the bursting of the financial bubble in 1990-91. This recovery started at the beginning of 2002. It is characterized by the restored increase of both profitability and spending on plant and equipment in the private business sector and an increase in dema…
Political Economy of Money, Credit and Finance in Contemporary Capitalism
Qu'est-ce que le néolibéralisme
The structural change in the world economy with a decay in advanced countries
This article focuses on three aspects of structural changes in the world economy. First, advanced countries are decaying with lower growth, accompanied by increased economic inequality and instability. Most of them are facing a demographic and ecological crisis. Second, the dynamic center of the world economy is shifting to developing countries. Their trajectories were diversified into three types: oil-producing rentier countries, stagnating LLDC…
How to apply Uno theory to contemporary capitalism in multiple crises
Starting with characterization of Uno theory, this article reviews representative works to apply Uno's theory of economic crises based on Marx to contemporary capitalism after World War I in three distinctive periods: first, the 30 years of interwar period including the worldwide Great Depression after 1929; second, the post-World War II period of high economic growth continuing until the beginning of the 1970s without serious economic crisis; an…
Marx’s theory of value for socialism
Possibilities of socialism are coming back globally through multiple crises in capitalist market economies. This paper reexamines how Marx’s theory of value can be utilized as a theoretical foundation for socialism in our age. Especially Marx’s original theory of forms and substance of value enables us to conceive various models of market socialism as well as democratic planned economy. Functions of socialist forms of money (s-money) and prices (…
Japanese Demographic Crisis in View of Marx's Capitalist Law of Population
In more than four decades, Japanese society has rapidly intensified a tendency towards a very low fertility rate with a smaller number of children. It is generally confirmed that a society needs a total fertility rate of at least 2.1 in order to avoid a decline in its total population. The total fertility rate in Japan was still 2.14 in 1973, when the period of high economic growth in the post-World War II ended. It continued to decline to 1.26 i…
Economics (25 works) · Political science (21 works) · Political Economy and Marxism (20 works) · Law (17 works) · Politics (17 works) · Capitalism (14 works) · Neoclassical economics (14 works) · Economic Theory and Policy (9 works) · Political economy (9 works) · Law (8 works)