The Contemporary World Depression and Japanese Capitalism -In Relation to the Basic Theory of capitalism-

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The causes, specific features, and the resultant effects of the contemporary world depression since 1973 present us not a few challenging issues. The dynamism of Japanese capitalism through this world great depression is also gathering much of worldwide economists' concern. This research projected investigation of these issues and related problems in a 2 years plan.In the first year, the causes and features of the global great depression were analysed mainly concerning the world capitalist economy as a whole. The research began with reconsideration of the favourable basic conditions for the continuous rapid capital accumulation and the 'success' of Keynesianism in the post World War II period until 1960's. Then, the historical specificities and the impacts of the overaccumulation of capital to cause the inflationary crisis were studied. It was further examined that the restructuring of the capitalist economy in the following continuous depression proceeded by introducing information technologies and thus reintensifying the working of market mechanism as an economic ground for neo-conservativism.In the second year, the changing internal structures and the external position of Japanese capitalism in the global economic crisis were investigated. Especially, Japanese exceptional situations as well as her difficulties and tendencies of resturucturing common with other capitalist countries were analysed. The broad economic basis for neo-conservativism was revealed also in Japan and studied with certain crisicisms in this research.The results of this research project are going to be published in an English book form in 1989.