Michio Morishima (1923–2004)

  • Naoki MatsuyamaEmail author


Matsuyama describes how Michio Morishima, a distinguished Japan-educated mathematical economist, had wide-ranging research interests, including dynamic general equilibrium theory, history of economic thought and ‘symphonic economics’. In order to cover his various works, the focus here is on the transition of Morishima’s economic methodology, which had been triggered by criticism from Ragner Frisch. After that, Morishima’s economic research gradually moved towards a more historical and institutional analysis of economic reality. Consequently, his realistic methodology evolves into his original approach, ‘symphonic economics’, based on historical and sociological perspectives. Matsuyama also describes Morishima’s efforts to establish The Suntory and Toyota International Centre for Economics and Related Disciplines (STICERD) at LSE.


Dynamic general equilibrium theory Turnpike theorem History of economic thought Dilemma of durables Say’s Law Symphonic economics 


Main Works by Michio Morishima

  1. Morishima Michio Chosaku-Shū [Collected Works of Michio Morishima].Google Scholar
  2. Morishima, M. (1950) [2004]. Dōgaku-teki Keizai Riron (Dynamic Economic Theory), with exposition by A. Nishi. Volume 1. Tokyo: Iwanami Shoten.Google Scholar
  3. Morishima, M. (1964) [2003]. Kinkō, Antei, Seichō (Equilibrium, Stability, and Growth), with exposition by K. Kawamata. Volume 2. Tokyo: Iwanami Shoten.Google Scholar
  4. Morishima, M. (1969) [2005]. Keizai-Seichō no Riron (Theory of Economic Growth), with exposition by H. Hori. Volume 3. Tokyo: Iwanami Shoten.Google Scholar
  5. Morishima, M. (1971) [2005]. Keiryō-keizai Model wa Donoyouni Sadou Suruka (The Workings of Econometric Models), with exposition by A. Amano. Volume 11. Tokyo: Iwanami Shoten.Google Scholar
  6. Morishima, M. (1973) [2004]. Jyuyō-Riron (Theory of Demand), with exposition by K. Suzumura. Volume 5. Tokyo: Iwanami Shoten.Google Scholar
  7. Morishima, M. (1973) [2004a]. Kindai-Shakai no Keizai-Riron (The Economic Theory of Modern Society), with exposition by K. Nagatani. Volume 12. Tokyo: Iwanami Shoten.Google Scholar
  8. Morishima, M. (1973) [2004b]. Marx no Keizai-Gaku (Marx’s Economics), with exposition by Y. Shiozawa. Volume 7. Tokyo: Iwanami Shoten.Google Scholar
  9. Morishima, M. (1977) [2004]. Walras no Keizai-Gaku (Walras’s Economics), with exposition by T. Maruyama. Volume 9. Tokyo: Iwanami Shoten.Google Scholar
  10. Morishima, M. (1978) [2004]. Kachi, Sakushu, Seichō (Value, Exploitation, and Growth), with exposition by T. Nakatani. Volume 8. Tokyo: Iwanami Shoten.Google Scholar
  11. Morishima, M. (1982) [2004]. Naze Nihon wa ‘Seikou’ Shitaka? (Why Has Japan ‘Succeeded’?), with exposition by K. Ikeo. Volume 13. Tokyo: Iwanami Shoten.Google Scholar
  12. Morishima, M. (1984) [2004]. Keynes no Keizai-Gaku (Keynes’s Economics), with exposition by H. Yoshikawa. Volume 10. Tokyo: Iwanami Shoten.Google Scholar
  13. Morishima, M. (1989) [2003]. Ricardo no Keizai-Gaku (Ricardo’s Economics), with exposition by K. Watarai. Volume 6. Tokyo: Iwanami Shoten.Google Scholar
  14. Morishima, M. (1992) [2004]. Shihon to Shinyō (Capital and Credit), with exposition by A. Yasutomi. Volume 4. Tokyo: Iwanami Shoten.Google Scholar
  15. Morishima, M. (2000) [2005]. Naze Nihon wa Ikizumatta ka (Japan at a Deadlock), with exposition by H. Okumura. Volume 14. Tokyo: Iwanami Shoten.Google Scholar
  16. Morishima, M. (2005). Jiden, Ryakunen-Pu, Chosaku-Mokuroku (Autobiography, Abridged Chronological Record, and Catalogue of Michio Morishima’s Works). Additional volume. Tokyo: Iwanami Shoten.Google Scholar


  1. Morishima, M. (1949). ‘Seigakuteki Antei Joken to Dogakuteki Antei Joken’ (‘Static and Dynamic Stability Conditions’). Shakai Kagaku Hyoron (Review of Social Sciences), 3: 136–147.Google Scholar
  2. Morshima, M. (1952). ‘Consumer’s Behavior and Liquidity Preference’. Econometrica, 20(2): 223–246.CrossRefGoogle Scholar
  3. Morshima, M. (1959). ‘Some Properties of a Dynamic Leontief System with a Spectrum of Techniques’. Econometrica, 27(4): 626–637.CrossRefGoogle Scholar
  4. Morishima, M. (1960). ‘Economic Expansion and the Interest Rate in Generalized von Neumann Models’. Econometrica, 28(2): 352–363.CrossRefGoogle Scholar
  5. Morishima, M. (1961). ‘Proof of a Turnpike Theorem: The “No Joint Production Case”’. Review of Economic Studies, 28(2): 89–97.Google Scholar
  6. Morishima, M. (1975). ‘A Historical Resolution of the Technological Gap: Japan and the West’. Economic Notes, 4(1): 49–74.Google Scholar
  7. Morishima, M. (1984). ‘The Good and Bad Uses of Mathematics’. Chapter 3 in P. Wiles and G. Routh (eds) Economics in Disarray. Oxford: Basil Blackwell: 51–73.Google Scholar
  8. Morishima, M. (1985). Gakkō, Gakureki, Jinsei (School, Education, and Life). Tokyo: Iwanami Shoten.Google Scholar
  9. Morishima, M. (1991) [2014]. ‘Morishima Michio Hicks no Omoide’. Memorial Lecture given at the opening ceremony of The Library & Papers of Sir John Hicks at Kobe University of Commerce, 16 November 1991. Transcribed by N. Matsuyama, Shōdai Ronshū (Journal of University of Hyogo), 65(3): 23–64.Google Scholar
  10. Morishima, M. (1994). Shisou toshiteno Kindai Keizai-Gaku (Modern Economics as Philosophy). Tokyo: Iwanami Shoten.Google Scholar
  11. Morishima, M. and F. Seton (1961). ‘Aggregation in Leontief Matrices and the Labour Theory of Value’. Econometrica, 29(2): 203–220.CrossRefGoogle Scholar
  12. Morishima, M. and Y. Kaneko (1962). ‘On the Speed of Establishing Multi-sectoral Equilibrium’. Econometrica, 30(4): 818–823.CrossRefGoogle Scholar

Lecture Notes

  1. Morishima’s lecture notes, which I have referred to, are written in Japanese and English with mathematical expressions. All the materials, including lecture notes, manuscripts and books which Morishima used, now housed in the Morishima Library, Kyoto, have yet to be catalogued as of November 2017. Google Scholar
  2. ‘Advanced Economic Theory/Advanced Mathematical Economics’ (1968–1969, Essex; 1969–1970, Essex and LSE).Google Scholar
  3. ‘A History of the von Neumann Revolution’ (May 1969, Bonn; October 1969, Essex; June 1971, Rome).Google Scholar
  4. ‘A Logical Reconsideration of Walras’ (21 January 1970, Nuffield College, Oxford; 9–10 February 1970, Siena).Google Scholar
  5. ‘From Marx to von Neumann’ (18–22 September 1972).Google Scholar
  6. ‘General Equilibrium Theory and Aggregate Economics’ (1968–1969, Essex).Google Scholar
  7. ‘Lecture Note for Marx’s Labour Theory of Value’ (1968).Google Scholar
  8. ‘Marx from a Contemporary Viewpoint’ (1968, Cambridge, Essex, UCL; 14 February 1970, University of Rome; 16 February 1970, Siena; 18 March 1970, York; 8 May 1970, Edinburgh; 7 January 1971, Warwick; 2 February 1971, Birmingham; June 1971, Torino; 24 February 1972, Keele).Google Scholar
  9. ‘Marxian Economics’ (1970–1971, LSE; 1971–1972, LSE; 1972–1973, LSE; 1973–1975, LSE).Google Scholar
  10. ‘No Name’ (19 February 1970, Siena).Google Scholar

Other Works Referred To

  1. Andronov, A.A. and S.E. Chaikin (1949). Theory of Oscillations. Princeton: Princeton University Press.Google Scholar
  2. Aoyama, H. (1938). ‘Seigaku-teki Kinkō-Riron to Dōgaku-Ka no Mondai’ (‘The Static Theory of General Equilibrium and its Dynamization’), Keizai Ronsō, 47(3): 395–409.Google Scholar
  3. Bandiera, O. (2015). ‘STICERD: About Us – Director’s Introduction’. London: STICERD. Available at:
  4. Dorfman, R., P.A. Samuelson and R.M. Solow (1958). Linear Programming and Economic Analysis. New York: McGraw-Hill.Google Scholar
  5. Fukuda, S. (2011). ‘Morishima Michio no Ricardo Kaishaku wo meguru Ronsō’ (‘Controversy Over Morishima’s Interpretation of Ricardo’). Jinbun-Shakai Ronsō, 26: 55–71.Google Scholar
  6. Hendry, D.F and G. Mizon (2000). ‘On Selecting Policy Analysis Models by Forecasting Accuracy’. Chapter 5 in A. Atkinson, H. Glennerster and N. Stern (eds) Putting Economics to Work: Volume in Honour of Michio Morishima. London: STICERD: 71–119.Google Scholar
  7. Hicks, J.R. (1939) [1946]. Value and Capital. Second edition. Oxford: Clarendon Press.Google Scholar
  8. Hirose, K. (2006). ‘Michio Morishima’. Chapter 7 in N. Suzuki (ed.) Nihon no Keizai-Shisō 2. Tokyo: Nihon Keizai Hyōron Sha: 243–296.Google Scholar
  9. Komuro, N. (2004). Keizai-Gaku wo Meguru Kyoshō-Tachi (Giants of Economics). Tokyo: Diamond, Inc.Google Scholar
  10. Middleton, R. (2008). ‘Morishima, Michio (1923–2004)’. Oxford Dictionary of National Biography. Available at:
  11. Negishi, T. (2005). ‘Michio Morishima and History: An Obituary’. European Journal of the History of Economic Thought, 12(3): 553–557.CrossRefGoogle Scholar
  12. Neumann, J. von (1945–1946). ‘A Model of General Economic Equilibrium’. Review of Economic Studies, 13(1): 1–9.CrossRefGoogle Scholar
  13. Okishio, N. (1961). ‘Technical Change and the Rate of Profit’. Kobe University Economic Review, 7: 85–99.Google Scholar
  14. Samuelson, P.A. (1947). Foundations of Economic Analysis. Cambridge, MA: Harvard University Press.Google Scholar
  15. Shibata, K. (1933). ‘Shihon-Ron to Ippan Kinkō-Riron’ (‘Das Kapital and General Equilibrium Theory’). Keizai Ronsō, 36(1): 80–110.Google Scholar
  16. Sono, M. (1944). ‘Shijyō-Kinkō no Antei-Jyōken’ (The Stability Conditions of a Market Equilibrium). Keizai Ronsō, 58(1–2): 17–51.Google Scholar
  17. Takata, Y. (1940) [1995]. Power Theory of Economics. Translated by D.W. Anthony, with a Foreword by M. Morishima. New York: St. Martin’s Press.Google Scholar
  18. Uzawa, H. (1965). ‘Optimum Technical Change in an Aggregative Model of Economic Growth’. International Economic Review, 6(1): 18–31.CrossRefGoogle Scholar
  19. Walras, L. (1874) [1954]. Elements of Pure Economics. Translated by W. Jaffé. London: Allen & Unwin.Google Scholar
  20. Weintraub, E.R. (1987). ‘Stability Theory via Liapunov’s Method: A Note on the Contribution of Takuma Yasui’. History of Political Economy, 19(4): 615–620.CrossRefGoogle Scholar
  21. Yasui, T. (1948a). ‘Keizai-teki Kinkō no Dōgaku-teki Antei-Jyōken’ (‘Dynamic Stability Conditions for Economic Equilibrium’). Kikan Keizai Sichou, 9: 1–30.Google Scholar
  22. Yasui, T. (1948b). ‘Shūren-sei no Kōjyun to Dōgaku-teki Antei-Jyōken’ (‘The Convergence Postulate and Dynamic Stability Conditions’). Review of Social Sciences, 1: 189–216.Google Scholar
  23. Yasui, T. (1949). ‘Dōgaku-teki Antei-Jyōken ni Tsuiteno Ichi-Chūkai’ (‘A Note on the Dynamic Stability Condition’). Review of Social Sciences, 3: 46–59.Google Scholar

Copyright information

© The Author(s) 2018

Authors and Affiliations

  1. 1.School of EconomicsUniversity of HyogoKoboJapan

Personalised recommendations