Return of Marxian Macro-dynamics in East Asia Vol: 32

Masao Ishikura
Hitotsubashi University, Japan

Seongjin Jeong
Gyeongsang National University, South Korea

Minqi Li
University of Utah, USA

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Product Details
21 Aug 2017
Emerald Publishing Limited
328 pages - 229 x 152mm
Research in Political Economy


The economic growth in East Asia has been believed to be the model case of the triumph of capitalism. Some progressive economists, for example, the developmental state theorists, also praised the East Asian model as the progressive alternative to neoliberal market fundamentalism, arguing that they are the outcomes of state-led development.  
However, with the sudden advent of the ‘Lost Decade of Japan’ in the 1990s, and the ensuing ‘IMF Crisis’ of South Korea in 1997, and now the imminent ‘hard landing’ of the Chinese economy, the East Asian miracle story is quickly becoming a thing of the past. East Asia has now become an epicentre of the contradictions and crisis of global capitalism. Today, deepening economic crises, exacerbation of social polarization, rising popular discontents, and escalating geopolitical tensions are common to China, Japan and Korea. Moreover, East Asia has been at the centre of global ecological contradictions. Indeed, East Asia has now become the typical place of Marxian macro-dynamics.  
This important and timely volume brings together experts in political economy from across the globe, to comment on the return of Marxian macro-dynamics in East Asia. The contributions explore macro-dynamics, the role of the state and hegemony in the context of transnational capitalism, and Marxian alternatives for East Asia.
Introduction Masao Ishikura, Seongjin Jeong, Minqi Li 

Part I: Macro-dynamics in East Asia  

Labor Value and Exploitation in the Global Economy
Taiji Hagiwara, Kobe University, Japan

Financial Instability in Japan: Debt, Confidence, and Financial Structure
Kenshiro Ninomiya, Shiga University, Japan and Masaaki Tokuda, Shiga University, Japan

A Historical Perspective and Evaluation of Abenomics
Takeshi Nakatani, Onomichi City University, Japan, and Taro Abe , Nagoya Gakuin University, Japan

Biased Technical Change and Economic Growth: The Case of Korea, 1970-2013
Sangjun Jeong, Mokpo National University, South Korea

Dynamics of the Rate of Surplus Value and the “New Normal” of the Chinese Economy
Hao Qi, Renmin University of China, China 

Part II: State and Hegemony in East Asia in the Context of Transnational Capitalism

The Transnational Capitalist Class and Relations of Production in Asia and Oceania
Jeb Sprague-Silgado, University of California Santa Barbara, USA

A critical review of China’s reform 
Gyu Cheol Lee, Kyungpook National University, South Korea

Why China is Different: Hegemony, Revolutions and the Rise of Contender State
Lorenzo Fusaro, Universidad Autónoma Metropolitana, Mexico 

Part III: Consideration of Aspects for a Marxian Alternative for East Asia

The Chongqing Model – Socialist Alternative or Propaganda Cliché? 
Anna Zakharzhevskaya, State Academic University for the Humanities, Russia 

Subversive Migration, Citizenship from Below and Democracy against Bordered Capitalism
Dae-oup Chang, Sogang University, South Korea 

Part IV: Communications on Chapters on Sraffa in RPE

Addendum to Carter’s ’Response to Professor Solow’
Yoann Verger, National Institute for Agronomic Research (INRA), France

Comments on Verger’s Addendum 
Scott Carter, University of Tulsa, USA 

Reply to Yoann Verger 
Robert M. Solow, Massachussetts Institute of Technology, USA
Masao Ishikura is Professor of Economics, Hitotsubashi University, Japan.  
Seongjin Jeong is Professor of Economics, Gyeongsang National University, South Korea.
Minqi Li is Professor of Economics, University of Utah, USA.

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