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Michio MORISHIMA

economist

Michio MORISHIMA, economist in the field of General Equilibrium Theory; History of Economic Thought; Capitalist Economic Systems. Vice-President, President, Econometrics Society, 1964- 1965; Honorary

Member, American Economic Association, since 1976; Foreign Honorary Member, American Academy of Arts and Sciences since 1975; Fellow, British Academy,

; Bunka Kunsho (Cultural Order of Japan), 1976.

Background

MORISHIMA, Michio was born in 1923 in Osaka, Japan.

Education

Bachelor of Arts University Kyoto, 1946.

Career

Assistant Professor, University Kyoto,

1. Assistant Professor, Professor, University Osaka, 1951-1969. Rockefeller Foundation Fellow, Universities Oxford and Yale,

8.

Visiting Senior Fellow, All Souls College, Oxford, 1963-1964. Professor, University Essex, 1968-1970. Chairman, International Centre Economics and Related Disciplines, London School of Economies and Political Science, London, United Kingdom, 1978-1981.

Sir John Hicks Professor of Economics, London School of Economies and Political Science, London, United Kingdom, London, England, since 1970. Association Editor, Econometrica,

9. Co-editor, Editor, Int Economic Record, 1960-1970.

Editorial Boards, Journal of Economic Literature, 1976-1978, Ec, since 1975.

Achievements

  • Vice-President, President, Econometrics Society, 1964- 1965. Honorary

    Member, American Economic Association, since 1976. Foreign Honorary Member, American Academy of Arts and Sciences since 1975.

    Fellow, British Academy. Bunka Kunsho (Cultural Order of Japan), 1976.

Works

Views

My economics research began with the mathématisation of Hicks’ Value and Capital model published in my first book (Dogakuteki Keizai Riron, 1951). This demonstrated that Samuelson-Lange type conditions will assure the stability of temporary equilibrium, but that totally different stability conditions obtain for moving equilibria (not conditions in terms of prices but conditions in terms of quantities). This research used Frobenius’ theorem while also introducing the Liapounoff-like function based on an article by Sono.

I subsequently attempted to develop Frobenius’ theorem so as to be able to include complementary goods. However, the early Value and Capital model later developed into a growth model. My theory has been consistently multisectoral.

Its focal concern is the accommodation of von Neumann’s growth model to general equilibrium models. It is from this perspective that I have attempted to review the works of Marx and Walras. It is my belief that both were Ricardian and when modified along von Neumann lines, the similarities and differences in the theories of the two men became far clearer.

I have recently been looking at the workability of economic systems using a far broader perspective which takes into account social factors (e.g.

Max Weber’s theory that the development of an economy is on a knife-edge with respect to minute differences in ethos).

Connections

mother:
Tatsuo Morishima