Table of contents
About this book
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.
- DOI https://doi.org/10.1007/978-981-10-5762-5
- Copyright Information Development Bank of Japan 2017
- Publisher Name Springer, Singapore
- eBook Packages Economics and Finance
- Print ISBN 978-981-10-5761-8
- Online ISBN 978-981-10-5762-5
- Series Print ISSN 2191-5504
- Series Online ISSN 2191-5512
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