About the Book
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.
Table of Contents:
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
About the Author :
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.
Review :
Now that that the miracle narratives of triumphalist capitalism in East Asia are washing up against deepening economic crisis, social polarization, rising popular discontent, and escalating geopolitical tensions, interest in anti-capitalism and Marxism is beginning to revive in China, Japan, and the Koreas. Contributors here look at macro-dynamics in East Asia, state and hegemony in East Asia in the context of transnational capitalism, and considering aspects of a Marxian alternative for East Asia.
